Banking Act 2009 (c. 1)

Part 1U.K.Special Resolution Regime

Modifications etc. (not altering text)

C1Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2

C2Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2

[F1Chapter 5U.K. Special cases]

Textual Amendments

F1Pt. 1 Ch. 5 formed from ss. 83A-89G (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 98

[F2Banks not regulated by PRAU.K.

Textual Amendments

F2 S. 83A and cross-heading inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 28 (with Sch. 20); S.I. 2013/423, art. 3, Sch.

83AModifications of PartU.K.

(1)In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.

(2)In this section—

“ FCA-regulated bank ” means a bank which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000;
“ immediate group ” has the meaning given by section 421ZA of the Financial Services and Markets Act 2000;
“ PRA-authorised person ” has the meaning given by section 2B(5) of that Act.

TABLE OF MODIFICATIONS

Provision	Modification
[F3Section 3	Treat the definition of “normal insolvency proceedings” in subsection (1) as including investment bank special administration established by the Investment Bank Special Administration Regulations 2011 (S.I. 2011/245).]
[F4Section 6A	Treat the reference to the PRA in subsections (3)(a) and (7) as references to the FCA.
Section 6C	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. ]
Section 7	(a) Treat the references to the PRA in subsections [F5(1), (5A), (5C), (5D) and (5F)] as references to the FCA. (b) F6. . . (c) If the bank has as a member of its immediate group a PRA-authorised person the FCA must consult the PRA before determining whether or not Condition 2 is met. [F7(d) Subsections (5G)(a) and (5H)(a) do not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
[F8Section 7A	In subsection (1), the reference to the PRA does not apply unless the bank has as a member of its immediate group a PRA-authorised person ]
F9. . .	F9. . .
F9. . .	F9. . .
[F10Section 8ZA	(a) Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. F11. . .]
Section 9	Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
F12. . .	F12. . .
Section 24	Ignore subsection (1)(c).
Section 25	Ignore subsection (2)(c).
Section 26	Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
[F13Section 26ZA	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
Section 26A	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 27	Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 28	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 29	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 30	Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 31	Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 41	Ignore subsection (1)(c).
[F14Section 41A	Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. ]
Section 42	Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 42A	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 43	Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 44	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
[F14Section 44A	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. ]
[F15Section 44D	Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 44E	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
Section 45	Subsection (8)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 46	Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
[F14Section 48H	Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 48U	Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 48V	Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 48W	Subsection (9)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
[F16Section 63	Treat the reference to insolvency in subsection (1A), as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011
Section 66	Treat the reference to insolvency in subsection (1ZA), as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011
Section 81AA	Treat the references to the PRA in subsections (3)(b) and (5)(a) as references to the FCA. ]
Section 81B	[F17(a) Treat the references to the PRA in subsections (2) and (2A) as references to the FCA. (b) Ignore subsection (6)(b) unless the bank has as a member of its immediate group a PRA-authorised person.]
[F18Section 81ZZBA	Treat the reference to the PRA in subsection (4) as a reference to the FCA.
Section 81ZZBB	(a) Treat the references to the PRA in subsections (2) and (6) as references to the FCA. (b) Subsections (7)(b) and (8)(b) do not apply unless the banking group company has as a member of its immediate group a PRA-authorised person.]
[F19Section 81ZBA	(a) Treat the references to the PRA in subsections (2)(a) and (2A) as references to the FCA. (b) Ignore subsection (8)(a) unless the bank has as a member of its immediate group a PRA-authorised person. F20. . .]
[F18Section 81ZBB	Treat the reference to the PRA in subsection (4) as a reference to the FCA.
Section 81ZBC	(a) Treat the references to the PRA in subsections (2) and (6) as references to the FCA. (b) Subsections (7)(b) and (8)(b) do not apply unless the banking group company has as a member of its immediate group a PRA-authorised person.]
[F14Section 81BA	[F21(a) Treat the references to the PRA in subsections (2)(a) and (2A) as references to the FCA. (b)] Subsection (5)(b) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. ]
[F18Section 81BB	Treat the reference to the PRA in subsection (4) as a reference to the FCA.
Section 81BC	(a) Treat the references to the PRA in subsections (2) and (6) as references to the FCA. (b) Subsections (7)(b) and (8)(b) do not apply unless the banking group company has as a member of its immediate group a PRA-authorised person.]
Section 82	(a) Treat the reference to the PRA in subsection (2) as a reference to the FCA. (b) Ignore subsection (5)(a).
F22. . .	F22. . .]