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Financial Services Act 2012
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- UK Public General Acts
- 2012 c. 21
- SCHEDULE 17
- PART 1
- Paragraph 28
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Financial Services Act 2012, Paragraph 28 is up to date with all changes known to be in force on or before 07 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.
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- Act power to apply conferred (temp.) by 2014 c. 21 s. 79(4)
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This section has no associated Explanatory Notes
28U.K.After section 83 insert—
“Banks not regulated by PRAU.K.
83AModifications of Part
(1)In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.
(2)In this section—
“FCA-regulated bank” means a bank which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000;
“immediate group” has the meaning given by section 421ZA of the Financial Services and Markets Act 2000;
“PRA-authorised person” has the meaning given by section 2B(5) of that Act.
TABLE OF MODIFICATIONS
| Provision | Modification |
|---|---|
| Section 7 | (a)Treat the references to the PRA in subsections (1), (4), (4A) and (5) as references to the FCA. (b)Ignore subsection (5)(aa). (c)If the bank has as a member of its immediate group a PRA-authorised person the FCA must consult the PRA before determining whether or not Condition 2 is met. |
| Section 8 | Subsection (3)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 9 | Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 24 | Ignore subsection (1)(c). |
| Section 25 | Ignore subsection (2)(c). |
| Section 26 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 26A | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 27 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 28 | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 29 | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 30 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 31 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 41 | Ignore subsection (1)(c). |
| Section 42 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 42A | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 43 | Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 44 | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 45 | Subsection (8)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 46 | Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
| Section 81B | (a)Treat the reference to the PRA in subsection (2) as a reference to the FCA. (b)Ignore subsection (6)(b). |
| Section 82 | (a)Treat the reference to the PRA in subsection (2) as a reference to the FCA. (b)Ignore subsection (5)(a).” |
Commencement Information
I1Sch. 17 para. 28 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
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