- Deddfwriaeth Ddrafft
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) (Amendment) Regulations 2014 No. 1830
Draft Regulations laid before Parliament under section 60(7) of the Banking Act 2009, for approval by resolution of each House of Parliament.
Draft Statutory Instruments
Financial Services And Markets
Made
00 July 2014
Coming into force
1st August 2014
The Treasury make the following Regulations in exercise of the powers conferred by section 60 of the Banking Act 2009(1).
A draft of these Regulations has been laid before and approved by resolution of each House of Parliament in accordance with section 60(7) of that Act.
1. These Regulations may be cited as the Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) (Amendment) Regulations 2014, and come into force on 1st August 2014.
2. In regulation 1(3) of the Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009(2) (interpretation), in the definition of “banking institution” after paragraph (a) insert—
“(aa)an investment firm;”.
Name
Name
Two of the Lords Commissioners of Her Majesty’s Treasury
Date
(This note is not part of the Regulations)
These Regulations amend the Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009 (S.I. 2009/319) to apply to investment firms the provisions made by those Regulations in relation to a “banking institution”. Those Regulations specify provisions which must, or which may, be included in a third party compensation order made in accordance with section 59 of the Banking Act 2009 (c. 1) (“the Act”) in relation to a partial property transfer (as defined by section 47 of the Act).
For the meaning of “investment firm” see section 258A of the Act and the Banking Act 2009 (Exclusion of Investment Firms of a Specified Description) Order 2014 (S.I. 2014/ ). These Regulations are made in connection with the application of Part 1 of the Act to investment firms by section 89A of the Act.
A full impact assessment of the effect that these Regulations will have on the costs of business and the voluntary sector is available from Her Majesty’s Treasury, 1 Horse Guards Road, London SW1A 2HQ or on http://www.hm-treasury.gov.uk/ and is published alongside the Regulations on http://www.legislation.gov.uk/.
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
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