Counterfeiting Act 2021

Central Bank may impose requirement on relevant person

14. (1) The Central Bank may impose a requirement on a relevant person:

(a) where Article 6.7 of the Euro Coin Regulation applies in relation to the relevant person, to take such measures, within such time limit, as are specified in the requirement and as the Central Bank considers necessary to ensure that the non-compliance by the relevant person with the Regulation is rectified promptly;

(b) to comply with a condition of a permission granted by the Central Bank under Article 7.1 of the Euro Banknote Decision;

(c) where Article 10.3 of the Euro Banknote Decision applies in relation to the relevant person—

(i) to adopt such corrective measures, within such time limit, as are specified in the requirement and as the Central Bank considers necessary to ensure that the non-compliance by the relevant person with the provisions concerned of the Decision is rectified promptly, or

(ii) prohibiting the relevant person from recirculating the euro banknote denomination of the series concerned.

(2) Where a relevant person is the subject of a requirement by the Eurosystem under Article 8.4 of the Euro Banknote Decision, the requirement shall be deemed to be a requirement of the Central Bank imposed on the relevant person under this section, and this Part shall apply accordingly.