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Banking Act 2009
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Changes over time for: Section 192
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Point in time view as at 31/12/2020.
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Banking Act 2009, Section 192 is up to date with all changes known to be in force on or before 08 February 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.
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192Role of [F1FCA and PRA]U.K.
This section has no associated Explanatory Notes
(1)In exercising powers under this Part the Bank of England shall have regard to any action that [F2the FCA or the PRA] has taken or could take.
[F3(2)The Bank of England—
(a)must consult the FCA before taking action under this Part in respect of a recognised F4... payment system the operator of which satisfies section 186(2)(a) [F5, a service provider in relation to such a system or a service provider which itself satisfies section 186(2)(a)] and
(b)must consult the PRA before taking action under this Part in respect of a recognised F4... payment system the operator of which satisfies section 186(2)(b)] [F6, a service provider in relation to such a system or a service provider which itself satisfies section 186(2)(b)].
(3)If [F7the FCA or the PRA] gives the Bank of England notice that [F8it] is considering taking action in respect of the operator of a recognised F9... payment system who satisfies [F10section 186(2)(a) or (b)] [F11, a service provider in relation to such a system or a service provider which itself satisfies section 186(2)(a) or (b)] the Bank may not take action under this Part in respect of the operator [F12or service provider] unless—
(a)[F13the FCA or (as the case may be) the PRA] consents, or
(b)the notice is withdrawn.
Textual Amendments
F1Words in s. 192 heading substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(6)(d), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2Words in s. 192(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(6)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F3S. 192(2) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(6)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F4Word in s. 192(2)(a)(b) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 14
F5Words in s. 192(2)(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(12)(a)(i)
F6Words in s. 192(2)(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(12)(a)(ii)
F7Words in s. 192(3) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(6)(c)(i), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F8Word in s. 192(3) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(6)(c)(ii), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F9Word in s. 192(3) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 14
F10Words in s. 192(3) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(6)(c)(iii), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F11Words in s. 192(3) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(12)(b)(i)
F12Words in s. 192(3) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(12)(b)(ii)
F13Words in s. 192(3)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(6)(c)(iv), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
Commencement Information
I1S. 192 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. 1
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