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Banking Act 2009

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Changes over time for: Section 89A

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Status:

Point in time view as at 31/12/2020.

Changes to legislation:

Banking Act 2009, Section 89A is up to date with all changes known to be in force on or before 18 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

[F189AApplication to investment firmsU.K.
This adran has no associated Nodiadau Esboniadol

(1)This Part applies to investment firms as it applies to banks, subject to the modifications in [F2the following Table—

ProvisionModification
Section 1Ignore subsection (2)(b).
[F3Section 3 In subsection (1), in the definition of “normal insolvency proceedings” ignore the reference to the bank insolvency procedure.]
Section 4Ignore subsections (2)(b), (6) and (7)(b).
Section 5Ignore subsection (1)(b).
Section 7Ignore subsection (7).
F4. . .F4. . .
Section 8ZAIn subsection (5), ignore the reference to the bank insolvency procedure.
Section 12AA [F5References to normal insolvency proceedings do not include a reference to the bank insolvency procedure.]
Section 14Ignore subsection (5).
Section 60In subsection (3)(c), ignore the reference to bank insolvency.
Section 60BIn subsection (4), ignore the reference to bank insolvency.
Section 63In subsection (1A), ignore the reference to bank insolvency.
Section 66In subsection (1ZA), ignore the reference to bank insolvency.]

[F6(2)In the case of investment firms which are FCA-regulated investment firms, in subsection (1) the reference to this Part is a reference to this Part as it applies to FCA-regulated banks by virtue of section 83A.

(3)In this section—

  • “FCA-regulated bank” has the meaning given by section 83A(2);

  • “FCA-regulated investment firm” means an investment firm which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000.]]

Textual Amendments

F1S. 89A and cross-heading inserted (5.6.2014 for specified purposes, 1.8.2014 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 101(5), 122(3) (with Sch. 20); S.I. 2014/1447, art. 2(e); S.I. 2014/1847, art. 2

F4Words in s. 89A(1) Table omitted (16.12.2016) by virtue of The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 23

F6S. 89A(2)(3) substituted for s. 89A(2) (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 101(3)

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