233. Suspending a Financial Services Permission or Approval or disqualification of auditors or actuaries

(1) If the Regulator considers that an Authorised Person has committed a contravention of these Regulations, it may —
(a) suspend, for such period as it considers appropriate, any Financial Services Permission which the person has to carry on a Regulated Activity; or
(b) impose, for such period as it considers appropriate, such limitations or other restrictions in relation to the carrying on of a Regulated Activity by the person as it considers appropriate.
(2) If the Regulator considers that an Approved Person has committed a contravention of these Regulations, it may suspend, for such period as it considers appropriate, any Approval of the performance by him of any Controlled Function to which the Approval relates.
(3) If the Regulator considers that an auditor or actuary has committed a contravention of these Regulations, it may disqualify the auditor or actuary from being the auditor of, or (as the case may be), from acting as an actuary for, any Authorised Person, Recognised Body or Reporting Entity or any particular class thereof.
(4) A suspension under this section may relate only to the carrying on of an activity or function in specified circumstances.
(5) A suspension under subsection (2) may have effect in relation to part of a function.
(6) A restriction under subsection (1)(b) may, in particular, be imposed so as to require the person concerned to take, or refrain from taking, specified action.
(7) The Regulator may —
(a) withdraw a suspension, restriction or disqualification; or
(b) vary a suspension, restriction or disqualification so as to reduce the period for which it has effect or otherwise to limit its effect.
(8) The power under this section may (but need not) be exercised so as to have effect in relation to all the Regulated Activities that the person concerned carries on.