Banking Act 2009 (c. 1)

Part 5 U.K. F1 ... Payment Systems

Textual Amendments

F1 Word in Pt. 5 heading omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 2

Miscellaneous U.K.

204 Information U.K.

(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 [F2 or an order under section 206A], or

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

[F3 (1A) The Bank of England may by notice in writing require the operator of a recognised F4 ... payment system to provide information which the Bank requires in connection with the exercise of its functions (whether under this Part or otherwise) in pursuance of its financial stability objective.]

(2) In particular, a notice [F5 under subsection (1) or (1A)] may require the operator of a recognised F6 ... payment system to notify the Bank if events of a specified kind occur.

(3) A notice [F7 under subsection (1) or (1A)] 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;

[F8 (b) the FCA;

F9 (ba) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(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 [F10 , the FCA or the PRA] in relation to F11 ... 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.

Textual Amendments

F2 Words in s. 204(1)(a) inserted (8.4.2010) by Financial Services Act 2010 (c. 28), s. 26(1)(l), Sch. 2 para. 45

F3 S. 204(1A) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F4 Word in s. 204(1A) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 26

F5 Words in s. 204(2) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F6 Word in s. 204(2) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 26

F7 Words in s. 204(3) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F8 S. 204(4)(b)(ba) substituted for s. 204(4)(b) (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(c), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F9 S. 204(4)(ba) omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 60 (with Sch. 3); S.I. 2017/43, reg. 2(g)

F10 Words in s. 204(4)(c) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(d), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F11 Word in s. 204(4)(c) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 26

Commencement Information

I1 S. 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

I2 S. 204(1)(b)(4)(c)(4)(d)(4)(e)(7) in force at 31.12.2009 by S.I. 2009/3000, art. 4, Sch. para. 4