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Financial Services (Banking Reform) Act 2013, Section 113 is up to date with all changes known to be in force on or before 05 September 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.
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Valid from 13/07/2018
(1)In this Part—
“company” means a company registered under the Companies Act 2006;
“operator”, in relation to a recognised F1... payment system, is to be read in accordance with section 183 of the Banking Act 2009;
[F2“recognised CSD” has the meaning given by section 285 of FSMA 2000;]
“recognised F3... payment system” means [F4a] payment system, as defined by section 182 of the Banking Act 2009, in respect of which a recognition order under section 184 of that Act is in force;
“the relevant system” means—
in relation to an infrastructure company falling within subsection (2)(a) of section 112, the recognised F5... payment system,
in relation to an infrastructure company falling within subsection (2)(b) of that section, the securities settlement system,
in relation to a company designated under subsection (4) of that section, the recognised F5... payment system or securities settlement system falling within paragraph (b) of that subsection;
“securities settlement system” means a computer-based system, and procedures, which enable title to units of a security to be evidenced and transferred without a written instrument, and which facilitate supplementary and incidental matters.
(2)Expressions used in the definition of “securities settlement system” in subsection (1) are to be read in accordance with section 783 of the Companies Act 2006.
Textual Amendments
F1Word in s. 113(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 42(a)
F2Words in s. 113(1) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 16(4) (with regs. 7(3)(b)(4), 9(1))
F3Word in s. 113(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 42(b)(i)
F4Word in s. 113(1) substituted (27.6.2017) by Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 42(b)(ii)
F5Word in s. 113(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 42(c)
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