Moved by
Lord Newby
60: After Clause 12, insert the following new Clause—
“Institution of proceedings
(1) In this section “an offence” means an offence under section (Offence relating to decision that results in bank failure).
(2) Proceedings for an offence may be instituted in England and Wales only—
(a) by the FCA, the PRA or the Secretary of State, or
(b) by or with the consent of the Director of Public Prosecutions.
(3) Proceedings for an offence may be instituted in Northern Ireland only—
(a) by the FCA, the PRA or the Secretary of State, or
(b) by or with the consent of the Director of Public Prosecutions for Northern Ireland.
(4) In exercising its power to institute proceedings for an offence, the FCA or the PRA must comply with any conditions or restrictions imposed in writing by the Treasury.
(5) Conditions or restrictions may be imposed under subsection (4) in relation to—
(a) proceedings generally, or
(b) such proceedings, or categories of proceedings, as the Treasury may direct.”