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(1)The body corporate known as the Financial Services Authority (“the Authority”) is to have the functions conferred on it by or under this Act.
(2)The Authority must comply with the requirements as to its constitution set out in Schedule 1.
(3)Schedule 1 also makes provision about the status of the Authority and the exercise of certain of its functions.
[F1(4)Section 249 of the Banking Act 2009 provides for references to functions of the Authority (whether generally or under this Act) to include references to functions conferred on the Authority by that Act (subject to any order under that section).]
Textual Amendments
F1S. 1(4) added (17.2.2009 for certain purposes and 21.2.2009 otherwise) by Banking Act 2009 (c. 1), ss. 249(4), 263(1) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 9
Modifications etc. (not altering text)
C1S. 1(3) extended (17.8.2001) by S.I. 2001/2617, arts. 2(a), 4(3), 8, Sch. 2 para. 2