S. 147(2)(b)(c) omitted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 98(4)

http://www.legislation.gov.uk/ukpga/2013/33/part/8/2019-07-18Financial Services (Banking Reform) Act 2013An Act to make further provision about banking and other financial services, including provision about the Financial Services Compensation Scheme; to make provision for the amounts owed in respect of certain deposits to be treated as a preferential debt on insolvency; to make further provision about payment systems and securities settlement systems; to make provision about the accounts of the Bank of England and its wholly owned subsidiaries; to make provision in relation to persons providing claims management services; and for connected purposes.texttext/xmlenStatute Law Database2024-09-06Expert Participation2019-07-18PART 8Final provisions
142Orders and regulations: general1

Any power of the Treasury, the Secretary of State or the Lord Chancellor to make an order or regulations under this Act is exercisable by statutory instrument.

2

Subsection (1) does not apply to an order under section 43 (payment systems: designation orders).

3

An order or regulations made by the Treasury, the Secretary of State or the Lord Chancellor under this Act may—

a

make different provision for different cases, and

b

contain such incidental or transitional provision as the person making the order or regulations considers appropriate.

143Orders and regulations: Parliamentary control1

A statutory instrument containing an order or regulations under this Act is subject to annulment in pursuance of a resolution of either House of Parliament, unless—

a

the instrument contains only provision made under section 148 (commencement), or

b

the instrument is required by subsection (3) or any other enactment to be laid in draft before, and approved by a resolution of, each House.

2

Subsection (3) applies to a statutory instrument that contains (with or without other provisions)—

a

regulations under section 7 (building societies: power to make provision about ring-fencing);

b

an order under section 41(4) (meaning of “payment system”);

c

an order under section 145 (power to make further consequential amendments) that amends or repeals primary legislation;

d

an order under paragraph 6 of Schedule 6 (conduct of FMI administration).

3

A statutory instrument to which this subsection applies may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, each House of Parliament.

4

In subsection (2)(c) “primary legislation” means—

a

an Act of Parliament,

b

an Act of the Scottish Parliament,

c

a Measure or Act of the National Assembly for Wales, or

d

Northern Ireland legislation.

144Interpretation

In this Act—

enactment” includes—

a

an enactment contained in subordinate legislation,

b

an enactment contained in, or in an instrument made under, an Act of the Scottish Parliament,

c

an enactment contained in, or in an instrument made under, a Measure or Act of the National Assembly for Wales, and

d

an enactment contained in, or in an instrument made under, Northern Ireland legislation;

the FCA” means the Financial Conduct Authority;

FSMA 2000” means the Financial Services and Markets Act 2000;

the PRA” means the Prudential Regulation Authority.

145Power to make further consequential amendments1

The Treasury, the Secretary of State or the Lord Chancellor may by order make such provision amending, repealing, revoking or applying with modifications any enactment to which this section applies as the person making the order considers necessary or expedient in consequence of any provision made by or under this Act.

2

This section applies to—

a

any enactment passed or made before the passing of this Act, and

b

any enactment passed or made on or before the last day of the Session in which this Act is passed.

3

Amendments and repeals made under this section are additional to those made by or under any other provision of this Act.

146Transitional provisions and savings1

The Treasury, the Secretary of State or the Lord Chancellor may by order make such provision as the person making the order considers necessary or expedient for transitory, transitional or saving purposes in connection with the commencement of any provision made by or under this Act.

2

An order under this section may—

a

confer functions on the FCA or the PRA;

b

modify, exclude or apply (with or without modifications) any enactment (including any provision of, or made under, this Act).

147Extent1

The provisions of this Act extend to England and Wales, Scotland and Northern Ireland.

This is subject to subsection (2).

2

The amendments made by the following sections have the same extent as the enactments amended—

a

section 13 (preferential debts: Great Britain),

b

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

148Commencement and short title1

This Part comes into force on the day on which this Act is passed.

2

The following provisions—

section 131, and

section 138 and Schedule 9, apart from paragraph 4 of that Schedule,

come into force at the end of the period of 2 months beginning with the day on which this Act is passed.

3

Sections 139 and 140(1) to (3) come into force on such day as the Secretary of State may by order appoint.

4

Section 140(4) to (6) comes into force on such day as the Lord Chancellor may by order appoint.

5

The remaining provisions of this Act come into force on such day as the Treasury may by order appoint.

6

Different days may be appointed for different purposes.

7

This Act may be cited as the Financial Services (Banking Reform) Act 2013.

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<note class="commentary F" eId="key-123d21a515ff91e08fbacf9bbf98b255">
<p>
S. 147(2)(b)(c) omitted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by virtue of
<ref href="http://www.legislation.gov.uk/id/uksi/2018/1253">The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2018/1253/article/1/2">arts. 1(2)</ref>
<ref href="http://www.legislation.gov.uk/id/uksi/2018/1253/article/1/3">(3)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2018/1253/article/98/4">98(4)</ref>
</p>
</note>
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<portionBody period="#period5">
<part eId="part-8" period="#period4">
<num>
<strong>PART 8</strong>
</num>
<heading>Final provisions</heading>
<section eId="section-142" period="#period1">
<num>142</num>
<heading>Orders and regulations: general</heading>
<subsection eId="section-142-1">
<num>1</num>
<content>
<p>Any power of the Treasury, the Secretary of State or the Lord Chancellor to make an order or regulations under this Act is exercisable by statutory instrument.</p>
</content>
</subsection>
<subsection eId="section-142-2">
<num>2</num>
<content>
<p>Subsection (1) does not apply to an order under section 43 (payment systems: designation orders).</p>
</content>
</subsection>
<subsection eId="section-142-3">
<num>3</num>
<intro>
<p>An order or regulations made by the Treasury, the Secretary of State or the Lord Chancellor under this Act may—</p>
</intro>
<paragraph eId="section-142-3-a">
<num>a</num>
<content>
<p>make different provision for different cases, and</p>
</content>
</paragraph>
<paragraph eId="section-142-3-b">
<num>b</num>
<content>
<p>contain such incidental or transitional provision as the person making the order or regulations considers appropriate.</p>
</content>
</paragraph>
</subsection>
</section>
<section eId="section-143" period="#period2">
<num>143</num>
<heading>Orders and regulations: Parliamentary control</heading>
<subsection eId="section-143-1">
<num>1</num>
<intro>
<p>A statutory instrument containing an order or regulations under this Act is subject to annulment in pursuance of a resolution of either House of Parliament, unless—</p>
</intro>
<paragraph eId="section-143-1-a">
<num>a</num>
<content>
<p>the instrument contains only provision made under section 148 (commencement), or</p>
</content>
</paragraph>
<paragraph eId="section-143-1-b">
<num>b</num>
<content>
<p>the instrument is required by subsection (3) or any other enactment to be laid in draft before, and approved by a resolution of, each House.</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-143-2">
<num>2</num>
<intro>
<p>Subsection (3) applies to a statutory instrument that contains (with or without other provisions)—</p>
</intro>
<paragraph eId="section-143-2-a">
<num>a</num>
<content>
<p>regulations under section 7 (building societies: power to make provision about ring-fencing);</p>
</content>
</paragraph>
<paragraph eId="section-143-2-b">
<num>b</num>
<content>
<p>an order under section 41(4) (meaning of “payment system”);</p>
</content>
</paragraph>
<paragraph eId="section-143-2-c">
<num>c</num>
<content>
<p>an order under section 145 (power to make further consequential amendments) that amends or repeals primary legislation;</p>
</content>
</paragraph>
<paragraph eId="section-143-2-d">
<num>d</num>
<content>
<p>an order under paragraph 6 of Schedule 6 (conduct of FMI administration).</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-143-3">
<num>3</num>
<content>
<p>A statutory instrument to which this subsection applies may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, each House of Parliament.</p>
</content>
</subsection>
<subsection eId="section-143-4">
<num>4</num>
<intro>
<p>
In subsection (2)(c) “
<term refersTo="#term-primary-legislation">primary legislation</term>
” means—
</p>
</intro>
<paragraph eId="section-143-4-a">
<num>a</num>
<content>
<p>an Act of Parliament,</p>
</content>
</paragraph>
<paragraph eId="section-143-4-b">
<num>b</num>
<content>
<p>an Act of the Scottish Parliament,</p>
</content>
</paragraph>
<paragraph eId="section-143-4-c">
<num>c</num>
<content>
<p>a Measure or Act of the National Assembly for Wales, or</p>
</content>
</paragraph>
<paragraph eId="section-143-4-d">
<num>d</num>
<content>
<p>Northern Ireland legislation.</p>
</content>
</paragraph>
</subsection>
</section>
<section eId="section-144" period="#period1">
<num>144</num>
<heading>Interpretation</heading>
<content>
<p>In this Act—</p>
<blockList class="unordered">
<item>
<p>
<term refersTo="#term-enactment">enactment</term>
” includes—
</p>
<blockList class="ordered">
<item>
<num>a</num>
<p>an enactment contained in subordinate legislation,</p>
</item>
<item>
<num>b</num>
<p>an enactment contained in, or in an instrument made under, an Act of the Scottish Parliament,</p>
</item>
<item>
<num>c</num>
<p>an enactment contained in, or in an instrument made under, a Measure or Act of the National Assembly for Wales, and</p>
</item>
<item>
<num>d</num>
<p>an enactment contained in, or in an instrument made under, Northern Ireland legislation;</p>
</item>
</blockList>
</item>
<item>
<p>
<term refersTo="#term-the-fca">the FCA</term>
” means the Financial Conduct Authority;
</p>
</item>
<item>
<p>
<term refersTo="#term-fsma-2000">FSMA 2000</term>
” means the Financial Services and Markets Act 2000;
</p>
</item>
<item>
<p>
<term refersTo="#term-the-pra">the PRA</term>
” means the Prudential Regulation Authority.
</p>
</item>
</blockList>
</content>
</section>
<section eId="section-145" period="#period1">
<num>145</num>
<heading>Power to make further consequential amendments</heading>
<subsection eId="section-145-1">
<num>1</num>
<content>
<p>The Treasury, the Secretary of State or the Lord Chancellor may by order make such provision amending, repealing, revoking or applying with modifications any enactment to which this section applies as the person making the order considers necessary or expedient in consequence of any provision made by or under this Act.</p>
</content>
</subsection>
<subsection eId="section-145-2">
<num>2</num>
<intro>
<p>This section applies to—</p>
</intro>
<paragraph eId="section-145-2-a">
<num>a</num>
<content>
<p>any enactment passed or made before the passing of this Act, and</p>
</content>
</paragraph>
<paragraph eId="section-145-2-b">
<num>b</num>
<content>
<p>any enactment passed or made on or before the last day of the Session in which this Act is passed.</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-145-3">
<num>3</num>
<content>
<p>Amendments and repeals made under this section are additional to those made by or under any other provision of this Act.</p>
</content>
</subsection>
</section>
<section eId="section-146" period="#period1">
<num>146</num>
<heading>Transitional provisions and savings</heading>
<subsection eId="section-146-1">
<num>1</num>
<content>
<p>The Treasury, the Secretary of State or the Lord Chancellor may by order make such provision as the person making the order considers necessary or expedient for transitory, transitional or saving purposes in connection with the commencement of any provision made by or under this Act.</p>
</content>
</subsection>
<subsection eId="section-146-2">
<num>2</num>
<intro>
<p>An order under this section may—</p>
</intro>
<paragraph eId="section-146-2-a">
<num>a</num>
<content>
<p>confer functions on the FCA or the PRA;</p>
</content>
</paragraph>
<paragraph eId="section-146-2-b">
<num>b</num>
<content>
<p>modify, exclude or apply (with or without modifications) any enactment (including any provision of, or made under, this Act).</p>
</content>
</paragraph>
</subsection>
</section>
<section eId="section-147" period="#period3">
<num>147</num>
<heading>Extent</heading>
<subsection eId="section-147-1">
<num>1</num>
<content>
<p>The provisions of this Act extend to England and Wales, Scotland and Northern Ireland.</p>
<p>This is subject to subsection (2).</p>
</content>
</subsection>
<subsection eId="section-147-2" period="#period3">
<num>2</num>
<intro>
<p>The amendments made by the following sections have the same extent as the enactments amended—</p>
</intro>
<paragraph eId="section-147-2-a">
<num>a</num>
<content>
<p>section 13 (preferential debts: Great Britain),</p>
</content>
</paragraph>
<paragraph eId="section-147-2-b" period="#period3">
<num>
<noteRef href="#key-123d21a515ff91e08fbacf9bbf98b255" marker="F1" class="commentary F"/>
b
</num>
<content>
<p>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</p>
</content>
</paragraph>
<paragraph eId="section-147-2-c" period="#period3">
<num>
<noteRef href="#key-123d21a515ff91e08fbacf9bbf98b255" marker="F1" class="commentary F"/>
c
</num>
<content>
<p>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</p>
</content>
</paragraph>
</subsection>
</section>
<section eId="section-148" period="#period1">
<num>148</num>
<heading>Commencement and short title</heading>
<subsection eId="section-148-1">
<num>1</num>
<content>
<p>This Part comes into force on the day on which this Act is passed.</p>
</content>
</subsection>
<subsection eId="section-148-2">
<num>2</num>
<content>
<p>The following provisions—</p>
<blockList class="unordered">
<item>
<p>section 131, and</p>
</item>
<item>
<p>section 138 and Schedule 9, apart from paragraph 4 of that Schedule,</p>
</item>
</blockList>
<p>come into force at the end of the period of 2 months beginning with the day on which this Act is passed.</p>
</content>
</subsection>
<subsection eId="section-148-3">
<num>3</num>
<content>
<p>Sections 139 and 140(1) to (3) come into force on such day as the Secretary of State may by order appoint.</p>
</content>
</subsection>
<subsection eId="section-148-4">
<num>4</num>
<content>
<p>Section 140(4) to (6) comes into force on such day as the Lord Chancellor may by order appoint.</p>
</content>
</subsection>
<subsection eId="section-148-5">
<num>5</num>
<content>
<p>The remaining provisions of this Act come into force on such day as the Treasury may by order appoint.</p>
</content>
</subsection>
<subsection eId="section-148-6">
<num>6</num>
<content>
<p>Different days may be appointed for different purposes.</p>
</content>
</subsection>
<subsection eId="section-148-7">
<num>7</num>
<content>
<p>This Act may be cited as the Financial Services (Banking Reform) Act 2013.</p>
</content>
</subsection>
</section>
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