Search Legislation

Financial Services (Banking Reform) Act 2013

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 112

 Help about opening options

Version Superseded: 29/08/2023

Alternative versions:

Status:

Point in time view as at 09/12/2019. This version of this provision has been superseded. Help about Status

Changes to legislation:

Financial Services (Banking Reform) Act 2013, Section 112 is up to date with all changes known to be in force on or before 06 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

112Interpretation: infrastructure companiesU.K.

This section has no associated Explanatory Notes

(1)In this Part “infrastructure company” has the meaning given by this section.

(2)Infrastructure company” means a company which is—

(a)the operator of a recognised F1... payment system, other than an operator excluded by subsection (3),

[F2(b)a recognised CSD F3..., or]

(c)a company designated by the Treasury under subsection (4).

(3)But a company is not an infrastructure company if it is a recognised central counterparty, as defined by section 285 of FSMA 2000.

(4)The Treasury may by order designate a company for the purposes of subsection (2)(c) if—

(a)the company provides services to a person falling within subsection (2)(a) or (b), and

(b)the Treasury are satisfied that an interruption in the provision of those services would have a serious adverse effect on the effective operation of the recognised F4... payment system or securities settlement system in question.

(5)An order under subsection (4) must specify the recognised F5... payment system or securities settlement system in connection with which the company is designated.

(6)Before designating a company under subsection (4), the Treasury must consult—

(a)the company to be designated,

(b)the person within subsection (2)(a) or (b) to whom the company provides services,

(c)the Bank of England,

(d)if the company is a PRA-authorised person, the PRA and the FCA, and

(e)if the company is an authorised person other than a PRA-authorised person, the FCA.

Textual Amendments

F1Word in s. 112(2)(a) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 41

F4Word in s. 112(4)(b) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 41

F5Word in s. 112(5) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 41

Commencement Information

I1S. 112 in force at 13.7.2018 for E.W. by S.I. 2018/848, art. 2(a)

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?