Banking Act 2009

[F1 89A Application to investment firms U.K.

(1) This Part applies to investment firms as it applies to banks, subject to the modifications in [F2 the following Table—

Provision	Modification
Section 1	Ignore subsection (2)(b).
[F3 Section 3	In subsection (1), in the definition of “normal insolvency proceedings” ignore the reference to the bank insolvency procedure.]
Section 4	Ignore subsections (2)(b), (6) and (7)(b).
Section 5	Ignore subsection (1)(b).
Section 7	Ignore subsection (7).
F4 . . .	F4 . . .
Section 8ZA	In subsection (5), ignore the reference to the bank insolvency procedure.
Section 12AA	[F5 References to normal insolvency proceedings do not include a reference to the bank insolvency procedure.]
Section 14	Ignore subsection (5).
Section 60	In subsection (3)(c), ignore the reference to bank insolvency.
Section 60B	In subsection (4), ignore the reference to bank insolvency.
Section 63	In subsection (1A), ignore the reference to bank insolvency.
Section 66	In 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

F1 S. 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

F2 Words in s. 89A(1) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 101(2)

F3 Words in s. 89A(1) Table inserted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 71

F4 Words 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

F5 Words in s. 89A(1) Table substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 40; 2020 c. 1, Sch. 5 para. 1(1)

F6 S. 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)