A power control system comprising; a plurality of power control groups, with each said group comprising a plurality of individual point-of-load regulators each adapted to provide a respective regulated voltage output to a corresponding load, wherein the plurality of point-of-load regulators are grouped depending on load characteristics of said loads; an intermediate bus controller in communication with each of said power control groups through a serial data bus interface common to each group and an OK status line (OKA, OKB, OKC, OKD) unique for each respective group; and a front end regulator providing an intermediate bus voltage to each of said plurality of power control groups; wherein, said plurality of point-of-load regulators of each said group each further comprises a respective fault manager adapted to detect fault conditions and depending on a severity level of said fault conditions selectively communicate notifications of said fault conditions to each other ones of said plurality of point-of-load regulators of said group and to said intermediate bus controller so that a common response to said fault conditions is taken by each of said plurality of point-of-load regulators of said group and other groups, wherein said plurality of point-of-load regulators of each said group each further comprises a power conversion circuit adapted to transform the intermediate bus voltage to the desired output voltage, wherein said intermediate bus controller further comprises a master fault manager in communication with each said group through said OK status lines (OKA, OKB, OKC, OKD), said master fault manager receiving said notifications of said fault conditions and selectively communicating said notifications to said groups, wherein the fault manager of each point-of-load regulator is adapted to select an internal fault set process when an internal fault event is detected for the first time, wherein the fault manager is adapted to determine the severity level of the detected fault event by checking a status register, wherein if the severity level is low, the fault manager is adapted to report the fault condition to the intermediate bus controller without taking any other corrective action, and to communicate a corresponding notification message to the intermediate bus controller through the serial data bus interface, the power conversion circuit of the point-of-load regulator remaining in an operational state, and the internal fault set process returning to the beginning, whereas if the severity is not low, the fault manager is adapted to determine (step 232) if the severity level is mid or high, wherein if the severity is high, the fault manager is adapted to immediately shut off the power conversion circuit of the point-of-load regulator, wherein, if the severity is mid, the fault manager is adapted to shut off the power conversion circuit in accordance with a more orderly or gradual process, such as ramping down the output voltage at a predetermined rate or sequence rather than abruptly shutting it off, wherein the fault manager 168 is adapted, according an initial programming, to propagate the fault condition to the intermediate bus controller and/or other points-of-load connected to the same OK line by changing the state of the OK line if the severity level is mid or high, wherein the fault manager of each point-of-load is adapted to check whether there has been a change in the status of the OK line connected to the point-of-load regulator, wherein if the change in the status line indicates that a fault has occurred outside the point-of-load regulator, the fault manager of said point-of-load is configured to shut off the power conversion circuit of said point-of-load regulator, wherein the master fault manager is adapted to propagate a fault detected by a fault manager of a point-of-load regulator by changing the status of the OK lines or by communicating a message through the serial data bus interface, according to a user programming.