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Effect of suspension notices.
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27.— (1) A regulated financial service provider on whom a suspension notice is served—
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(a) shall immediately remove the suspended person concerned from performing—
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(i) the particular controlled function concerned,
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(ii) the specified part of the controlled function concerned, or
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(iii) all controlled functions,
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as specified in the notice, or
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(b) shall not appoint the suspended person to carry out the controlled function or part, or any controlled function, as specified in the notice,
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as the case requires.
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(2) A regulated financial service provider on whom a suspension notice is served shall comply with any condition imposed on the regulated financial service provider by the notice.
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(3) A suspended person on whom a suspension notice in relation to him or her is served, or who has been given a copy of such a notice by a regulated financial service provider shall cease performing, or (as the case requires) shall not begin to perform—
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(a) the particular controlled function concerned,
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(b) the specified part of the controlled function concerned, or
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(c) all controlled functions,
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as specified in the relevant suspension notice.
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(4) A suspension notice does not alter the contractual rights of any person to remuneration or benefits. Those rights shall continue to be determined in accordance with the relevant contract.
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