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Banking Act 2009

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Changes over time for: Section 204

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Version Superseded: 31/12/2009

Status:

Point in time view as at 12/11/2009. This version of this provision has been superseded. Help about Status

Changes to legislation:

Banking Act 2009, Section 204 is up to date with all changes known to be in force on or before 07 December 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. Help about Changes to Legislation

204InformationU.K.

This section has no associated Explanatory Notes

(1)The Bank of England may by notice in writing require a person to provide information—

(a)which the Bank thinks will help the Treasury in determining whether to make a recognition order, or

(b)which the Bank otherwise requires in connection with its functions under this Part.

(2)In particular, a notice may require the operator of a recognised inter-bank payment system to notify the Bank if events of a specified kind occur.

(3)A notice may require information to be provided—

(a)in a specified form or manner;

(b)at a specified time;

(c)in respect of a specified period.

(4)The Bank may disclose information obtained by virtue of this section to—

(a)the Treasury;

(b)the FSA;

(c)an authority in a country or territory outside the United Kingdom which exercises functions similar to those of the Treasury, the Bank of England or the FSA in relation to inter-bank payment systems;

(d)the European Central Bank;

(e)the Bank for International Settlements.

(5)Subsection (4)—

(a)overrides a contractual or other requirement to keep information in confidence, and

(b)is without prejudice to any other power to disclose information.

(6)The Treasury may by regulations permit the disclosure of information obtained by virtue of this section to a specified person.

(7)The Bank may publish information obtained by virtue of this section.

(8)The Treasury may make regulations about the manner and extent of publication under subsection (7).

(9)Regulations under this section—

(a)shall be made by statutory instrument, and

(b)shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(10)It is an offence—

(a)to fail without reasonable excuse to comply with a requirement under this section;

(b)knowingly or recklessly to give false information in pursuance of this section.

(11)A person guilty of an offence is liable—

(a)on summary conviction, to a fine not exceeding the statutory maximum, or

(b)on conviction on indictment, to a fine.

Commencement Information

I1S. 204(1)(a)(2)(3)(4)(a)(b)(5)(6)(8)-(11) in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 4

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