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Banking Act 2009
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Changes over time for: Section 246
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Banking Act 2009, Section 246 is up to date with all changes known to be in force on or before 14 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.
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Changes and effects yet to be applied to Section 246:
- s. 4(8A) (8B) inserted by 2012 c. 21 s. 96(3)
- s. 8(2)(d) and word inserted by 2012 c. 21 s. 96(4)(b)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 4(8A) (8B) inserted by 2012 c. 21 s. 96(3)
- s. 8(2)(d) and word inserted by 2012 c. 21 s. 96(4)(b)
246InformationU.K.
This section has no associated Explanatory Notes
(1)The Bank of England may disclose information that it thinks relevant to the financial stability of—
(a)individual financial institutions, or
(b)one or more aspects of the financial systems of the United Kingdom.
(2)Information about the business or other affairs of a specified or identifiable person may be disclosed under subsection (1) only to—
(a)the Treasury;
[F1(b)F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(ba)the Financial Conduct Authority;]
(c)the scheme manager of the Financial Services Compensation Scheme (established under Part 15 of the Financial Services and Markets Act 2000);
[F3(ca)the Payment Systems Regulator (established under section 40 of the Financial Services (Banking Reform) Act 2013);]
(d)an authority in a country or territory outside the United Kingdom which exercises functions similar to those of the Treasury, the Bank of England[F4, the Prudential Regulation Authority or the Financial Conduct Authority] in relation to financial stability;
(e)the European Central Bank.
(3)This section—
(a)overrides a contractual or other requirement to keep information in confidence, and
(b)is without prejudice to any other power to disclose information.
Textual Amendments
F1S. 246(2)(b)(ba) substituted for s. 246(2)(b) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 58(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2S. 246(2)(b) omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 61 (with Sch. 3); S.I. 2017/43, reg. 2(g)
F3S. 246(2)(ca) inserted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 95, 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
F4Words in s. 246(2)(d) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 58(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
Commencement Information
I1S. 246 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 8
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