Banking Act 2009

Changes over time for: Section 191

Alternative versions:

Changes to legislation:

Banking Act 2009, Section 191 is up to date with all changes known to be in force on or before 23 December 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

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View outstanding changes

Changes and effects yet to be applied to Section 191:

s. 4(8A) (8B) inserted by 2012 c. 21 s. 96(3)
s. 8(2)(d) and word inserted by 2012 c. 21 s. 96(4)(b)

Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

Whole provisions yet to be inserted into this Act (including any effects on those provisions):

s. 4(8A) (8B) inserted by 2012 c. 21 s. 96(3)
s. 8(2)(d) and word inserted by 2012 c. 21 s. 96(4)(b)

[F1191DirectionsU.K.

This section has no associated Explanatory Notes

(1)The Bank of England may give directions in writing to—

[F2(a)] the operator of a recognised F3... [F4payment] system,

[F5(b)to a recognised DSA service provider,] or

[F6(c)][F7 a service provider in relation to such a system [F8or to such DSA service providers].]

(2)A direction may—

(a)require or prohibit the taking of specified action in the operation of the system [F9or the provision of services F10...];

(b)set standards to be met in the operation of the system [F11or the provision of services F12...].

(3)If a direction is given for the purpose of resolving or reducing a threat to the stability of the UK financial system, the operator [F13, DSA service provider] [F14or service provider] (including [F15the operator’s [F16, DSA service provider’s] or service provider’s] officers and staff) has immunity from liability in damages in respect of action or inaction in accordance with the direction.

(4)A direction given for the purpose mentioned in subsection (3) must—

(a)include a statement that it is given for that purpose, and

(b)inform the operator [F17, DSA service provider] [F18or service provider] of the effect of that subsection.

(5)The Treasury may by order confer immunity on any person from liability in damages in respect of action or inaction in accordance with a direction (including a direction given for the purpose mentioned in subsection (3)).

(6)An order—

(a)is to be made by statutory instrument, and

(b)is subject to annulment in pursuance of a resolution of either House of Parliament.

(7)An immunity conferred by or under this section does not extend to action or inaction—

(a)in bad faith, or

(b)in contravention of section 6(1) of the Human Rights Act 1998.]

Textual Amendments

F1S. 191 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(3), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F2Words in s. 191(1) renumbered as s. 191(1)(a) (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(2)(a)

F3Word in s. 191(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 13

F4Word in s. 191(1) inserted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 10 para. 8; S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

F5S. 191(1)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(2)(b)