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Banking Act 2009
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Changes over time for: Section 201
Changes to legislation:
Banking Act 2009, Section 201 is up to date with all changes known to be in force on or before 22 January 2025. 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 Section 201:
- 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)
201WarningU.K.
This section has no associated Explanatory Notes
(1)Before imposing a sanction on the operator of [F1a] payment system [F2, on a DSA service provider,] [F3, on a service provider in relation to such a system] [F4or such a DSA service provider] or on another person the Bank of England must—
(a)give the operator [F5, DSA service provider] [F6, service provider] or other person a notice (a “warning notice”),
(b)give the operator [F7, DSA service provider] [F8, service provider] or other person at least 21 days to make representations,
(c)consider any representations made, and
(d)as soon as is reasonably practicable, give the operator [F9, DSA service provider] [F10, service provider] or other person a notice stating whether or not the Bank intends to impose the sanction.
[F11(1A)Before imposing a sanction on a person who is a service provider in relation to a recognised payment system [F12or recognised DSA service provider] the Bank must also—
(a)give the operator of the payment system [F13, or DSA service provider] a notice (a “warning notice”),
(b)give the operator [F14, or DSA service provider] at least 21 days to make representations,
(c)consider any representations made, and
(d)as soon as reasonably practicable, give the operator [F15or DSA service provider] a notice stating whether the Bank intends to impose the sanction.]
(2)In [F16subsections (1) and (1A)] “imposing a sanction” means—
(a)publishing details under section 197(1),
(b)requiring the payment of a penalty under section 198,
(c)giving a closure order under section 199, or
(d)making an order under section 200.
(3)Despite [F17subsections (1) and (1A)], if satisfied that it is necessary the Bank may without notice—
(a)give a closure order under section 199, or
(b)make an order under section 200.
Textual Amendments
F1Word in s. 201(1) substituted (27.6.2017) by Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 23
F2Words in s. 201(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 29(2)(a)
F3Words in s. 201(1) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(21)(a)(i)
F4Words in s. 201(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 29(2)(b)
F5Words in s. 201(1)(a) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 29(2)(c)
F6Words in s. 201(1)(a) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(21)(a)(ii)
F7Words in s. 201(1)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 29(2)(d)
F8Words in s. 201(1)(b) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(21)(a)(ii)
F9Words in s. 201(1)(d) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 29(2)(e)
F10Words in s. 201(1)(d) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(21)(a)(ii)
F11S. 201(1A) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(21)(b)
F12Words in s. 201(1A) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 29(3)(a)
F13Words in s. 201(1A)(a) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 29(3)(b)
F14Words in s. 201(1A)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 29(3)(c)
F15Words in s. 201(1A)(d) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 29(3)(d)
F16Words in s. 201(2) substituted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(21)(c)
F17Words in s. 201(3) substituted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(21)(c)
Modifications etc. (not altering text)
C1S. 201 applied by 2013 c. 33, s. 124A(8) (as inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 49(3) (with ss. 2(2), 5(2)))
Commencement Information
I1S. 201 in force at 12.11.2009 for specified purposes and 31.12.2009 in so far as not already in force by S.I. 2009/3000, arts. 2, 4, Sch. para. 2
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