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Changes over time for: Section 192
Timeline of Changes
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Status:
Point in time view as at 31/12/2020.
Changes to legislation:
Banking Act 2009, Section 192 is up to date with all changes known to be in force on or before 18 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.
Changes to Legislation
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192Role of [FCA 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 [the FCA or the PRA] has taken or could take.
[(2)The Bank of England—
(a)must consult the FCA before taking action under this Part in respect of a recognised ... payment system the operator of which satisfies section 186(2)(a) [, 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 ... payment system the operator of which satisfies section 186(2)(b)] [, a service provider in relation to such a system or a service provider which itself satisfies section 186(2)(b)].
(3)If [the FCA or the PRA] gives the Bank of England notice that [it] is considering taking action in respect of the operator of a recognised ... payment system who satisfies [section 186(2)(a) or (b)] [, 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 [or service provider] unless—
(a)[the FCA or (as the case may be) the PRA] consents, or
(b)the notice is withdrawn.
Textual Amendments
Commencement Information
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