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Bank of England and Financial Services Act 2016
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- Deddfau Cyhoeddus Cyffredinol y Deyrnas Unedig
- 2016 c. 14
- SCHEDULE 2
- PART 2
- Banking Act 2009 (c....
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Rhagor o Adnoddau
Changes over time for: Cross Heading: Banking Act 2009 (c. 1)
Alternative versions:
Changes to legislation:
Bank of England and Financial Services Act 2016, Cross Heading: Banking Act 2009 (c. 1) is up to date with all changes known to be in force on or before 22 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.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Schedule 2 Part 2 Crossheading Banking-act-2009-c-1:
- specified provision(s) amendment to earlier commencing S.I. 2019/1136 by S.I. 2020/929 reg. 2
Banking Act 2009 (c. 1)U.K.
52U.K.The Banking Act 2009 is amended as follows.
Commencement Information
I1Sch. 2 para. 52 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
53U.K.In section 83ZZ (co-operation)—
(a)at the end of paragraph (a) insert “ , and ”;
(b)omit paragraph (b).
Commencement Information
I2Sch. 2 para. 53 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
54(1)Section 83Z1 (delegation of enforcement functions) is amended as follows.U.K.
(2)In subsection (1)—
(a)for “appropriate regulator” substitute “ FCA ”;
(b)for “that regulator” substitute “ the FCA ”.
(3)Omit subsection (2)(b).
(4)In subsection (3), for “appropriate regulator” substitute “ FCA ”.
Commencement Information
I3Sch. 2 para. 54 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
55U.K.In section 89L(2)(c)(i) (application of section 348 of Financial Services and Markets Act 2000) omit inserted paragraph (ca).
Commencement Information
I4Sch. 2 para. 55 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
56(1)Section 96 (ground for applying for bank insolvency order) is amended as follows.U.K.
(2)In subsection (2)(a) omit “the PRA has informed the Bank of England that”.
(3)In subsection (3)(a), for the words from “has”, in the first place it occurs, to the end substitute “ is satisfied that Condition 2 in section 7 is met, and ”.
Commencement Information
I5Sch. 2 para. 56 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
57(1)Section 108 (removal of bank liquidator by court) is amended as follows.U.K.
(2)In subsection (2) omit “the Bank of England and”.
(3)In subsection (3) omit “the PRA and”.
Commencement Information
I6Sch. 2 para. 57 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
58U.K.In section 117(2)(a) (consents required for making of bank insolvency order) omit “the Bank of England and”.
Commencement Information
I7Sch. 2 para. 58 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
59(1)In section 129A (modifications for banks not regulated by PRA), the table in subsection (2) is amended as follows.U.K.
(2)In the entry for section 96, in column 2, for paragraphs (a) and (b) substitute—
“(a)Read subsection (2)(a) as “the FCA has informed the Bank of England that the FCA is satisfied that Condition 1 in section 7 is met,”.
(b)Treat the references to the PRA in subsection (3) as references to the FCA.
(ba)Read subsection (3)(a) as “the Bank of England—(i) has informed the FCA that it is satisfied that Condition 2 in section 7 is met, and (ii) has consented to the application,”.”
(3)In the entry for section 108, in column 2—
(a)for paragraph (b) substitute—
“(b)Treat the reference in subsection (2) to the FCA as a reference to the Bank of England.”;
(b)omit paragraph (c).
(4)In the entry for section 117, in column 2, for paragraph (b) substitute—
“(b)Treat the reference in subsection (2) to the FCA as a reference to the Bank of England.”
Commencement Information
I8Sch. 2 para. 59 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
60U.K.Omit section 204(4)(ba) (Bank may disclose information to PRA).
Commencement Information
I9Sch. 2 para. 60 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
61U.K.Omit section 246(2)(b) (Bank may disclose information to PRA).
Commencement Information
I10Sch. 2 para. 61 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
62U.K.Before section 257 insert—
“256BBank of England” and “Prudential Regulation Authority”
(1)In this Act references to the Bank of England do not include the Bank acting in its capacity as the Prudential Regulation Authority.
(2)For the interpretation of references to the Prudential Regulation Authority, see section 2A of the Financial Services and Markets Act 2000.”
Commencement Information
I11Sch. 2 para. 62 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
63U.K.In section 261 (index of defined terms), at the appropriate places in the table insert—
| “Bank of England | 256B” |
| “Prudential Regulation Authority | 256B” |
Commencement Information
I12Sch. 2 para. 63 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)
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