Part 7Miscellaneous
Investment banks
I2I1C2C1235Regulations: procedure
1
Investment bank insolvency regulations shall be made by statutory instrument.
2
Investment bank insolvency regulations may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.
3
The Treasury must consult before laying draft investment bank insolvency regulations before Parliament.
4
If the power to make investment bank insolvency regulations has not been exercised before the end of the period of 2 years beginning with the date on which this Act is passed, it lapses.
5
An order under section 232(6)—
a
shall be made by statutory instrument, and
b
may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.
F16
An order under section 232(7)—
a
is to be made by statutory instrument, and
b
is subject to annulment in pursuance of a resolution of either House of Parliament.