Sch. 10 para. 1 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

Sch. 10 para. 2 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

Sch. 10 para. 3 in force at 1.4.2014 by S.I. 2014/377, art. 2(2)(c)

Sch. 10 para. 4 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

Sch. 10 para. 5 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

Sch. 10 para. 6 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

Sch. 10 para. 8 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

Sch. 10 para. 9 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

Sch. 10 para. 10 in force at 1.3.2014 for specified purposes by S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2

Sch. 10 para. 10 in force at 1.6.2014 in so far as not already in force by S.I. 2014/377, art. 2(3)

Sch. 10 para. 7 omitted (31.12.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 164(3); S.I. 2023/1382, reg. 8(b)

http://www.legislation.gov.uk/ukpga/2013/33/schedule/10Financial 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 Participation2024-08-01SCHEDULESSCHEDULE 10

Section 141

Minor amendmentsCompanies Act 19851

In Schedule 15D to the Companies Act 1985 (disclosures), omit paragraph 29.

Financial Services and Markets Act 20002

In section 376 of FSMA 2000 (continuation of contracts of long-term insurance where insurer in liquidation), in subsection (11B), for “PRA-authorised” substitute “ PRA-regulated ”.

3(1)

Part 25 of FSMA 2000 (injunctions and restitution) is amended as follows.

(2)

In section 380 (injunctions), in subsection (6)(a), omit the “or” at the end of sub-paragraph (ii) and after sub-paragraph (iii) insertor (iv)

which is imposed by Part 7 of the Financial Services Act 2012 (offences relating to financial services) and whose contravention constitutes an offence under that Part;

.

(3)

In section 382 (restitution orders), in subsection (9)(a), omit the “or” at the end of sub-paragraph (ii) and after sub-paragraph (iii) insertor (iv)

which is imposed by Part 7 of the Financial Services Act 2012 (offences relating to financial services) and whose contravention constitutes an offence under that Part;

.

(4)

In section 384 (power of FCA or PRA to require restitution), in subsection (7), omit the “and” at the end of paragraph (b) and after paragraph (c) insertor (d)

a requirement which is imposed by Part 7 of the Financial Services Act 2012 (offences relating to financial services) and whose contravention constitutes an offence under that Part.

4(1)

In Schedule 1ZA to FSMA 2000 (the Financial Conduct Authority), paragraph 20 (penalties) is amended as follows.

(2)

In sub-paragraph (3)(b), after “this Act” insert “ or under a provision mentioned in sub-paragraph (4A) ”.

(3)

In sub-paragraph (4), after paragraph (c) insert—(ca)

its powers under the relevant competition provisions (as applied by Part 16A of this Act),

.

(4)

After sub-paragraph (4) insert—(4A)

The relevant competition provisions” are—

(a)

section 31E of the Competition Act 1998 (enforcement of commitments);

(b)

section 34 of that Act (enforcement of directions);

(c)

section 36 of that Act (penalties);

(d)

section 40A of that Act (penalties: failure to comply with requirements);

(e)

section 174A of the Enterprise Act 2002 (penalties).

(5)

In sub-paragraph (5)—

(a)

in paragraph (a), for “FSMA 2000” substitute “ this Act ”,

(b)

in paragraph (b), for “that Act” substitute “ this Act ”,

(c)

in paragraph (c), omit “of that Act”, and

(d)

after paragraph (c) insert—(ca)

offences under Part 1 of the Competition Act 1998,

(cb)

offences under Part 4 of the Enterprise Act 2002,

.

5

In Schedule 17A to FSMA 2000 (further provision in relation to exercise of Part 18 functions by Bank of England), in paragraph 10(1)(j), for “subsections (1) and (3)” substitute “ subsection (1) ”.

Income Tax Act 20076

In section 991 of the Income Tax Act 2007 (meaning of “bank”), in subsections (2)(b) and (3), for “Part 4” substitute “ Part 4A ”.

Banking Act 20097

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

8

In section 191 of the Banking Act 2009 (directions), in subsection (1), after “inter-bank” insert “ payment ”.

Financial Services Act 20129

In section 73 of the Financial Services Act 2012 (duty of FCA to investigate and report on possible regulatory failure), in subsection (1)(b)(i)—

(a)

for “their activities,” substitute “ of the carrying on of regulated activities, ”, and

(b)

for “or for the regulation of collective investment schemes” substitute “ , for the regulation of collective investment schemes or for the regulation of recognised investment exchanges, ”.

10(1)

Section 85 of the Financial Services Act 2012 (relevant functions in relation to complaints scheme) is amended as follows.

(2)

For subsection (2) substitute—(2)

The relevant functions of the FCA or the PRA are—

(a)

its functions conferred by or under FSMA 2000, other than its legislative functions, and

(b)

such other functions as the Treasury may by order provide.

(3)

For subsection (3) substitute—(3)

The relevant functions of the Bank of England are—

(a)

its functions under Part 18 of FSMA 2000 (recognised clearing houses) or under Part 5 of the Banking Act 2009 (inter-bank payment systems), other than its legislative functions, and

(b)

such other functions as the Treasury may by order provide.

(4)

In subsections (4) and (5), for “subsection (2)” substitute “ subsection (2)(a) ”.

(5)

In subsections (6) and (7), for “subsection (3)” substitute “ subsection (3)(a) ”.

(6)

After subsection (7) insert—(8)

For the purposes of subsection (2), sections 1A(6) and 2A(6) of FSMA 2000 do not apply.

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<p>
<ref eId="cygub5wu1-01317" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/1">Sch. 10 para. 1</ref>
in force at 1.3.2014 by
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,
<ref eId="cygub5wu1-01319" class="subref" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a">art. 2(1)(a)</ref>
,
<ref eId="cygub5wu1-01320" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1">Sch. Pt. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="I" class="commentary I" eId="key-7164afe3192e8c952c971eec5bee76ce" marker="I2">
<p>
<ref eId="cygub5wu1-01328" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/2">Sch. 10 para. 2</ref>
in force at 1.3.2014 by
<ref eId="cygub5wu1-01329" href="http://www.legislation.gov.uk/id/uksi/2014/377">S.I. 2014/377</ref>
,
<ref eId="cygub5wu1-01330" class="subref" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a">art. 2(1)(a)</ref>
,
<ref eId="cygub5wu1-01331" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1">Sch. Pt. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="I" class="commentary I" eId="key-d29d99aa18a4d7701853a02745fca4b3" marker="I3">
<p>
<ref eId="cygv07591-00103" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/3">Sch. 10 para. 3</ref>
in force at 1.4.2014 by
<ref eId="cygv07591-00104" href="http://www.legislation.gov.uk/id/uksi/2014/377">S.I. 2014/377</ref>
,
<ref eId="cygv07591-00105" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/2/c">art. 2(2)(c)</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="I" class="commentary I" eId="key-3383cee8ef94f6229a549662b7c41931" marker="I4">
<p>
<ref eId="cygub5wu1-01339" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/4">Sch. 10 para. 4</ref>
in force at 1.3.2014 by
<ref eId="cygub5wu1-01340" href="http://www.legislation.gov.uk/id/uksi/2014/377">S.I. 2014/377</ref>
,
<ref eId="cygub5wu1-01341" class="subref" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a">art. 2(1)(a)</ref>
,
<ref eId="cygub5wu1-01342" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1">Sch. Pt. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="I" class="commentary I" eId="key-b69cbdebf7c2798f3a42788e2f7a676d" marker="I5">
<p>
<ref eId="cygub5wu1-01350" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/5">Sch. 10 para. 5</ref>
in force at 1.3.2014 by
<ref eId="cygub5wu1-01351" href="http://www.legislation.gov.uk/id/uksi/2014/377">S.I. 2014/377</ref>
,
<ref eId="cygub5wu1-01352" class="subref" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a">art. 2(1)(a)</ref>
,
<ref eId="cygub5wu1-01353" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1">Sch. Pt. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="I" class="commentary I" eId="key-82c0a4a6d006a1edc293fc209b6c378f" marker="I6">
<p>
<ref eId="cygub5wu1-01361" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/6">Sch. 10 para. 6</ref>
in force at 1.3.2014 by
<ref eId="cygub5wu1-01362" href="http://www.legislation.gov.uk/id/uksi/2014/377">S.I. 2014/377</ref>
,
<ref eId="cygub5wu1-01363" class="subref" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a">art. 2(1)(a)</ref>
,
<ref eId="cygub5wu1-01364" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1">Sch. Pt. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="I" class="commentary I" eId="key-ca5154d571e110d8cd84d4bf55c9c71e" marker="I7">
<p>
<ref eId="cygub5wu1-01383" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/8">Sch. 10 para. 8</ref>
in force at 1.3.2014 by
<ref eId="cygub5wu1-01384" href="http://www.legislation.gov.uk/id/uksi/2014/377">S.I. 2014/377</ref>
,
<ref eId="cygub5wu1-01385" class="subref" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a">art. 2(1)(a)</ref>
,
<ref eId="cygub5wu1-01386" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1">Sch. Pt. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="I" class="commentary I" eId="key-80b9ba461bba47c66101e4460c5b359a" marker="I8">
<p>
<ref eId="cygub5wu1-01394" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/9">Sch. 10 para. 9</ref>
in force at 1.3.2014 by
<ref eId="cygub5wu1-01395" href="http://www.legislation.gov.uk/id/uksi/2014/377">S.I. 2014/377</ref>
,
<ref eId="cygub5wu1-01396" class="subref" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a">art. 2(1)(a)</ref>
,
<ref eId="cygub5wu1-01397" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1">Sch. Pt. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="I" class="commentary I" eId="key-b0e022b38a3e4a64d432233cb0f2426a" marker="I9">
<p>
<ref eId="cygub5wu1-01471" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/10">Sch. 10 para. 10</ref>
in force at 1.3.2014 for specified purposes by
<ref eId="cygub5wu1-01472" href="http://www.legislation.gov.uk/id/uksi/2014/377">S.I. 2014/377</ref>
,
<ref eId="cygub5wu1-01473" class="subref" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/b">art. 2(1)(b)</ref>
,
<ref eId="cygub5wu1-01474" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/2">Sch. Pt. 2</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="I" class="commentary I" eId="key-3e4ed273f9da06cf80a2869e16069c39" marker="I10">
<p>
<ref eId="cygv7rxk1-00007" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/10">Sch. 10 para. 10</ref>
in force at 1.6.2014 in so far as not already in force by
<ref eId="cygv7rxk1-00008" href="http://www.legislation.gov.uk/id/uksi/2014/377">S.I. 2014/377</ref>
,
<ref eId="cygv7rxk1-00009" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/3">art. 2(3)</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="key-ec72f71c25d573ecd57141a3c29d6a78" marker="F1">
<p>
<ref eId="c9nylxb15-00004" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/10/paragraph/7">Sch. 10 para. 7</ref>
omitted (31.12.2023) by virtue of
<ref eId="c9nylxb15-00005" href="http://www.legislation.gov.uk/id/ukpga/2023/29">Financial Services and Markets Act 2023 (c. 29)</ref>
,
<ref eId="c9nylxb15-00006" class="subref" href="http://www.legislation.gov.uk/id/ukpga/2023/29/section/86/3">s. 86(3)</ref>
,
<ref eId="c9nylxb15-00007" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/2023/29/schedule/11/paragraph/164/3">Sch. 11 para. 164(3)</ref>
;
<ref eId="c9nylxb15-00008" href="http://www.legislation.gov.uk/id/uksi/2023/1382">S.I. 2023/1382</ref>
,
<ref eId="c9nylxb15-00009" class="subref" href="http://www.legislation.gov.uk/id/uksi/2023/1382/regulation/8/b">reg. 8(b)</ref>
</p>
</note>
</notes>
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<dc:description>An 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.</dc:description>
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<dc:modified>2024-09-06</dc:modified>
<dc:contributor>Expert Participation</dc:contributor>
<dct:valid>2024-08-01</dct:valid>
<ukm:PrimaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="primary"/>
<ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/>
<ukm:DocumentStatus Value="revised"/>
</ukm:DocumentClassification>
<ukm:Year Value="2013"/>
<ukm:Number Value="33"/>
<ukm:EnactmentDate Date="2013-12-18"/>
<ukm:ISBN Value="9780105433132"/>
</ukm:PrimaryMetadata>
<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/notes"/>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/ukpga/2013/33/pdfs/ukpgaen_20130033_en.pdf" Date="2014-02-04" Title="Explanatory Note" Size="789993"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:CorrectionSlips>
<ukm:CorrectionSlip URI="http://www.legislation.gov.uk/ukpga/2013/33/pdfs/ukpgacs_20130033_en_003.pdf" Date="2018-11-26" Title="Correction Slip 3" Size="11459"/>
<ukm:CorrectionSlip URI="http://www.legislation.gov.uk/ukpga/2013/33/pdfs/ukpgacs_20130033_en_001.pdf" Date="2015-03-16" Title="Correction Slip 1" Size="11375"/>
<ukm:CorrectionSlip URI="http://www.legislation.gov.uk/ukpga/2013/33/pdfs/ukpgacs_20130033_en.pdf" Date="2014-03-27" Title="Correction Slip" Size="11591"/>
</ukm:CorrectionSlips>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/ukpga/2013/33/pdfs/ukpga_20130033_en.pdf" Date="2013-12-20" Size="1498429"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="437"/>
<ukm:BodyParagraphs Value="223"/>
<ukm:ScheduleParagraphs Value="214"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</proprietary>
</meta>
<body>
<hcontainer name="schedules" eId="schedules">
<heading>SCHEDULES</heading>
<hcontainer name="schedule" eId="schedule-10" uk:target="true">
<num>
SCHEDULE 10
<authorialNote class="referenceNote">
<p> Section 141</p>
</authorialNote>
</num>
<heading>Minor amendments</heading>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-10-crossheading-companies-act-1985">
<heading>
<i>Companies Act 1985</i>
</heading>
<paragraph eId="schedule-10-paragraph-1" class="schProv1">
<num>1</num>
<content>
<p>In Schedule 15D to the Companies Act 1985 (disclosures), omit paragraph 29.</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-10-crossheading-financial-services-and-markets-act-2000">
<heading>
<i>Financial Services and Markets Act 2000</i>
</heading>
<paragraph eId="schedule-10-paragraph-2" class="schProv1">
<num>2</num>
<content>
<p>
<mod>
In section 376 of FSMA 2000 (continuation of contracts of long-term insurance where insurer in liquidation), in subsection (11B), for “PRA-authorised” substitute
<quotedText>“ PRA-regulated ”</quotedText>
.
</mod>
</p>
</content>
</paragraph>
<paragraph eId="schedule-10-paragraph-3" class="schProv1">
<num>3</num>
<subparagraph eId="schedule-10-paragraph-3-1">
<num>(1)</num>
<content>
<p>Part 25 of FSMA 2000 (injunctions and restitution) is amended as follows.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-3-2">
<num>(2)</num>
<content>
<p>
<mod>
In section 380 (injunctions), in subsection (6)(a), omit the “or” at the end of sub-paragraph (ii) and after sub-paragraph (iii) insert
<quotedText startQuote="">or </quotedText>
<quotedStructure endQuote="" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default">
<level class="para2">
<num>(iv)</num>
<content>
<p>which is imposed by Part 7 of the Financial Services Act 2012 (offences relating to financial services) and whose contravention constitutes an offence under that Part;</p>
</content>
</level>
</quotedStructure>
<inline name="appendText">.</inline>
</mod>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-3-3">
<num>(3)</num>
<content>
<p>
<mod>
In section 382 (restitution orders), in subsection (9)(a), omit the “or” at the end of sub-paragraph (ii) and after sub-paragraph (iii) insert
<quotedText startQuote="">or </quotedText>
<quotedStructure endQuote="" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default">
<level class="para2">
<num>(iv)</num>
<content>
<p>which is imposed by Part 7 of the Financial Services Act 2012 (offences relating to financial services) and whose contravention constitutes an offence under that Part;</p>
</content>
</level>
</quotedStructure>
<inline name="appendText">.</inline>
</mod>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-3-4">
<num>(4)</num>
<content>
<p>
<mod>
In section 384 (power of FCA or PRA to require restitution), in subsection (7), omit the “and” at the end of paragraph (b) and after paragraph (c) insert
<quotedText startQuote="">or </quotedText>
<quotedStructure endQuote="" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default">
<level class="para1">
<num>(d)</num>
<content>
<p>a requirement which is imposed by Part 7 of the Financial Services Act 2012 (offences relating to financial services) and whose contravention constitutes an offence under that Part.</p>
</content>
</level>
</quotedStructure>
</mod>
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-10-paragraph-4" class="schProv1">
<num>4</num>
<subparagraph eId="schedule-10-paragraph-4-1">
<num>(1)</num>
<content>
<p>In Schedule 1ZA to FSMA 2000 (the Financial Conduct Authority), paragraph 20 (penalties) is amended as follows.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-4-2">
<num>(2)</num>
<content>
<p>
<mod>
In sub-paragraph (3)(b), after “this Act” insert
<quotedText>“ or under a provision mentioned in sub-paragraph (4A) ”</quotedText>
.
</mod>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-4-3">
<num>(3)</num>
<content>
<p>
<mod>
In sub-paragraph (4), after paragraph (c) insert—
<quotedStructure startQuote="" endQuote="" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default">
<level class="para1">
<num>(ca)</num>
<content>
<p>its powers under the relevant competition provisions (as applied by Part 16A of this Act),</p>
</content>
</level>
</quotedStructure>
<inline name="appendText">.</inline>
</mod>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-4-4">
<num>(4)</num>
<content>
<p>
<mod>
After sub-paragraph (4) insert—
<quotedStructure startQuote="" endQuote="" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default">
<subsection>
<num>(4A)</num>
<intro>
<p>The relevant competition provisions” are—</p>
</intro>
<level class="para1">
<num>(a)</num>
<content>
<p>section 31E of the Competition Act 1998 (enforcement of commitments);</p>
</content>
</level>
<level class="para1">
<num>(b)</num>
<content>
<p>section 34 of that Act (enforcement of directions);</p>
</content>
</level>
<level class="para1">
<num>(c)</num>
<content>
<p>section 36 of that Act (penalties);</p>
</content>
</level>
<level class="para1">
<num>(d)</num>
<content>
<p>section 40A of that Act (penalties: failure to comply with requirements);</p>
</content>
</level>
<level class="para1">
<num>(e)</num>
<content>
<p>section 174A of the Enterprise Act 2002 (penalties).</p>
</content>
</level>
</subsection>
</quotedStructure>
</mod>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-4-5">
<num>(5)</num>
<intro>
<p>In sub-paragraph (5)—</p>
</intro>
<level class="para1" eId="schedule-10-paragraph-4-5-a">
<num>(a)</num>
<content>
<p>
<mod>
in paragraph (a), for “FSMA 2000” substitute
<quotedText>“ this Act ”</quotedText>
,
</mod>
</p>
</content>
</level>
<level class="para1" eId="schedule-10-paragraph-4-5-b">
<num>(b)</num>
<content>
<p>
<mod>
in paragraph (b), for “that Act” substitute
<quotedText>“ this Act ”</quotedText>
,
</mod>
</p>
</content>
</level>
<level class="para1" eId="schedule-10-paragraph-4-5-c">
<num>(c)</num>
<content>
<p>in paragraph (c), omit “of that Act”, and</p>
</content>
</level>
<level class="para1" eId="schedule-10-paragraph-4-5-d">
<num>(d)</num>
<content>
<p>
<mod>
after paragraph (c) insert—
<quotedStructure startQuote="" endQuote="" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default">
<level class="para1">
<num>(ca)</num>
<content>
<p>offences under Part 1 of the Competition Act 1998,</p>
</content>
</level>
<level class="para1">
<num>(cb)</num>
<content>
<p>offences under Part 4 of the Enterprise Act 2002,</p>
</content>
</level>
</quotedStructure>
<inline name="appendText">.</inline>
</mod>
</p>
</content>
</level>
</subparagraph>
</paragraph>
<paragraph eId="schedule-10-paragraph-5" class="schProv1">
<num>5</num>
<content>
<p>
<mod>
In Schedule 17A to FSMA 2000 (further provision in relation to exercise of Part 18 functions by Bank of England), in paragraph 10(1)(j), for “subsections (1) and (3)” substitute
<quotedText>“ subsection (1) ”</quotedText>
.
</mod>
</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-10-crossheading-income-tax-act-2007">
<heading>
<i>Income Tax Act 2007</i>
</heading>
<paragraph eId="schedule-10-paragraph-6" class="schProv1">
<num>6</num>
<content>
<p>
<mod>
In section 991 of the Income Tax Act 2007 (meaning of “bank”), in subsections (2)(b) and (3), for “Part 4” substitute
<quotedText>“ Part 4A ”</quotedText>
.
</mod>
</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-10-crossheading-banking-act-2009">
<heading>
<i>Banking Act 2009</i>
</heading>
<paragraph eId="schedule-10-paragraph-7" class="schProv1">
<num>
<noteRef href="#key-ec72f71c25d573ecd57141a3c29d6a78" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
7
</num>
<content>
<p>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</p>
</content>
</paragraph>
<paragraph eId="schedule-10-paragraph-8" class="schProv1">
<num>8</num>
<content>
<p>
<mod>
In section 191 of the Banking Act 2009 (directions), in subsection (1), after “inter-bank” insert
<quotedText>“ payment ”</quotedText>
.
</mod>
</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-10-crossheading-financial-services-act-2012">
<heading>
<i>Financial Services Act 2012</i>
</heading>
<paragraph eId="schedule-10-paragraph-9" class="schProv1">
<num>9</num>
<intro>
<p>In section 73 of the Financial Services Act 2012 (duty of FCA to investigate and report on possible regulatory failure), in subsection (1)(b)(i)—</p>
</intro>
<level class="para1" eId="schedule-10-paragraph-9-a">
<num>(a)</num>
<content>
<p>
<mod>
for “their activities,” substitute
<quotedText>“ of the carrying on of regulated activities, ”</quotedText>
, and
</mod>
</p>
</content>
</level>
<level class="para1" eId="schedule-10-paragraph-9-b">
<num>(b)</num>
<content>
<p>
<mod>
for “or for the regulation of collective investment schemes” substitute
<quotedText>“ , for the regulation of collective investment schemes or for the regulation of recognised investment exchanges, ”</quotedText>
.
</mod>
</p>
</content>
</level>
</paragraph>
<paragraph eId="schedule-10-paragraph-10" class="schProv1">
<num>10</num>
<subparagraph eId="schedule-10-paragraph-10-1">
<num>(1)</num>
<content>
<p>Section 85 of the Financial Services Act 2012 (relevant functions in relation to complaints scheme) is amended as follows.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-10-2">
<num>(2)</num>
<content>
<p>
<mod>
For subsection (2) substitute—
<quotedStructure startQuote="" endQuote="" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default">
<subsection>
<num>(2)</num>
<intro>
<p>The relevant functions of the FCA or the PRA are—</p>
</intro>
<level class="para1">
<num>(a)</num>
<content>
<p>its functions conferred by or under FSMA 2000, other than its legislative functions, and</p>
</content>
</level>
<level class="para1">
<num>(b)</num>
<content>
<p>such other functions as the Treasury may by order provide.</p>
</content>
</level>
</subsection>
</quotedStructure>
</mod>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-10-3">
<num>(3)</num>
<content>
<p>
<mod>
For subsection (3) substitute—
<quotedStructure startQuote="" endQuote="" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default">
<subsection>
<num>(3)</num>
<intro>
<p>The relevant functions of the Bank of England are—</p>
</intro>
<level class="para1">
<num>(a)</num>
<content>
<p>its functions under Part 18 of FSMA 2000 (recognised clearing houses) or under Part 5 of the Banking Act 2009 (inter-bank payment systems), other than its legislative functions, and</p>
</content>
</level>
<level class="para1">
<num>(b)</num>
<content>
<p>such other functions as the Treasury may by order provide.</p>
</content>
</level>
</subsection>
</quotedStructure>
</mod>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-10-4">
<num>(4)</num>
<content>
<p>
<mod>
In subsections (4) and (5), for “subsection (2)” substitute
<quotedText>“ subsection (2)(a) ”</quotedText>
.
</mod>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-10-5">
<num>(5)</num>
<content>
<p>
<mod>
In subsections (6) and (7), for “subsection (3)” substitute
<quotedText>“ subsection (3)(a) ”</quotedText>
.
</mod>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-10-paragraph-10-6">
<num>(6)</num>
<content>
<p>
<mod>
After subsection (7) insert—
<quotedStructure startQuote="" endQuote="" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default">
<subsection>
<num>(8)</num>
<content>
<p>For the purposes of subsection (2), sections 1A(6) and 2A(6) of FSMA 2000 do not apply.</p>
</content>
</subsection>
</quotedStructure>
</mod>
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
</hcontainer>
</body>
</act>
</akomaNtoso>