SCHEDULES

SCHEDULE 5 Transfer of functions: consequential amendments

Part I Banking supervision

Chapter I Banking Act 1987

5

In section 11—

a

for “Bank”, wherever occurring, except subsection (1A)(c), there is substituted “ Authority ”, and

b

in subsection (1A)(c)—

i

for “the Bank is informed by The Securities and Investments Board, or” there is substituted “ it appears to the Authority, or the Authority is informed by ”, and

ii

in paragraph (ii), for “that Board or” there is substituted “ the Authority or that ”.