If the FCA considers that a person carrying on a relevant designated activity has contravened a relevant Part 5A requirement imposed on the person in relation to that activity, it may—
prohibit the person, for such period as it considers appropriate, from carrying on that activity, or
impose, for such period as it considers appropriate, such limitations or other restrictions in relation to the carrying on of that activity by the person as it considers appropriate.
A prohibition may relate only to the carrying on of an activity in specified circumstances.
A restriction may, in particular, be imposed so as to require the person concerned to take, or refrain from taking, specified action.
The FCA may, on the application of the person to whom it relates—
withdraw a prohibition or restriction, or
vary a prohibition or restriction so as to reduce the period for which it has effect or otherwise to limit its effect.
The power under this section may, but need not, be exercised so as to have effect in relation to all the relevant designated activities that the person concerned carries on.
Any one or more of the powers under—
subsection (1)(a) and (b) of this section, and
sections 205 and 206,
may be exercised in relation to the same contravention.