68.— Section 33AQ of the Act of 1942 is amended—

(a) in subsection (3) by inserting the following after paragraph (c):

“(ca) suspension of its authorisation, in respect of any one or more of its activities, for such period, not exceeding 12 months, as the Bank considers appropriate;

(cb) revocation of its authorisation;”,

(b) by substituting the following for subsection (4):

“(4) For the purpose of subsection (3)(c), the prescribed amount is—

(a) if the financial service provider is a body corporate or an unincorporated body, the greater of—

(i) €10,000,000, and

(ii) an amount equal to 10 per cent of the turnover of the body for its last complete financial year before the finding is made,

(b) if the financial service provider is a natural person, €1,000,000, or

(c) if the regulations prescribe some other amount for paragraph (a) or (b), that other amount.”,

(c) in subsection (6), by substituting the following for paragraph (a):

“(a) €1,000,000, or”,

and

(d) by inserting the following subsection:

“(9) In this section ‘authorisation’ means an authorisation, licence or any other permission required to carry on business as a regulated financial service provider granted by the Bank pursuant to any provision of financial services legislation, and includes registration.”.