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Financial Services (Banking Reform) Act 2013

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Changes over time for: Section 20

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Status:

Point in time view as at 07/12/2020.

Changes to legislation:

Financial Services (Banking Reform) Act 2013, Section 20 is up to date with all changes known to be in force on or before 03 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

20Statements of responsibilitiesU.K.

This section has no associated Explanatory Notes

(1)Section 60 of FSMA 2000 (applications for approval) is amended as follows.

(2)After subsection (2) insert—

(2A)If—

(a)the application is for the approval of a person to perform a designated senior management function, and

(b)the authorised person concerned is a relevant authorised person (see section 71A),

the appropriate regulator must require the application to contain, or be accompanied by, a statement setting out the aspects of the affairs of the authorised person concerned which it is intended that the person will be responsible for managing in performing the function.

(2B)A statement provided under subsection (2A) is known as a “statement of responsibilities”.

(2C)In subsection (2A) “designated senior management function” means a function designated as a senior management function under section 59(6A) or (6B).

F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1S. 20(3) omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 22(3); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with reg. 3)

Commencement Information

I1S. 20 in force at 25.7.2014 for specified purposes by S.I. 2014/1819, art. 2(3)

I2S. 20 in force at 7.3.2016 in so far as not already in force by S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

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