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Banking Act 2009
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- UK Public General Acts
- 2009 c. 1
- Part 8
- Section 261
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Changes over time for: Section 261
Version Superseded: 29/08/2023
Alternative versions:
- 21/02/2009- Amendment
- 01/04/2013- Amendment
- 05/06/2014- Amendment
- 01/08/2014- Amendment
- 31/12/2014- Amendment
- 01/01/2015- Amendment
- 16/12/2016- Amendment
- 01/03/2017- Amendment
- 27/06/2017- Amendment
- 30/11/2017- Amendment
- 28/12/2020- Amendment
- 31/12/2020- Amendment
- 31/12/2020
Point in time - 29/08/2023- Amendment
- 31/12/2023- Amendment
Status:
Point in time view as at 31/12/2020. This version of this provision has been superseded.
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Changes to legislation:
Banking Act 2009, Section 261 is up to date with all changes known to be in force on or before 07 January 2025. 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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261Index of defined termsU.K.
This section has no associated Explanatory Notes
The Table sets out expressions defined in this Act for general purposes.
| Expression | Section |
|---|---|
| Action | 93 and 166 |
| [F1Additional Tier 1 instruments (in Part 1) | 3] |
| [F2Bail-in compensation order | 49] |
| [F3bail in liabilities | 3] |
| Bank (Part 1) | 2 |
| Bank (Part 2) | 91 |
| Bank administration | 136 |
| Bank administration order | 141 |
| Bank insolvency | 90 |
| Bank insolvency order | 94 |
| [F4Bank of England | 256B] |
| [F5Banking group company | 81D] |
| Bridge bank | 12 |
| Bridge bank reverse share transfer instrument | 31 |
| Bridge bank share transfer instrument | 30 |
| [F6Bridge bank supplemental property transfer instrument | 44D |
| Bridge bank supplemental reverse property transfer instrument | 44E] |
| [F1the capital requirements regulation (in Part 1) | 3] |
| F7. . . | F7. . . |
| [F8Client assets (Part 1) | 3] |
| [F1Common Equity Tier 1 instruments (in Part 1) | 3] |
| Compensation scheme order | 49 |
| The court (Part 2) | 92 |
| The court (Part 3) | 166 |
| [F1critical functions (in Part 1) | 3] |
| Eligible depositors | 93 |
| [F1eligible liabilities | 3] |
| Enactment | 258 |
| [F1extraordinary public financial support (in Part 1) | 3] |
| [F9FCA | 3, 93, 166 & 183] |
| F10. . . | F10. . . |
| [F11FSCS (in Part 1) | 3 |
| FSCS (in Part 2) | 93] |
| Fair | 93 |
| Financial assistance | 257 |
| Financial institution | 230 |
| Full payment resolution | 100 |
| Independent valuer | 54 |
| F12. . . | F12. . . |
| [F13Investment firm | 258A] |
| Liquidation committee | 100 |
| [F1mandatory reduction instrument | 6B] |
| [F14Normal insolvency proceedings (in Part 1) | 3] |
| Objective 1 Achievement Notice | 139 |
| Onward bridge bank | 12 |
| Onward property transfer instrument | 43 |
| [F6Onward share transfer instrument | 26ZA] |
| Onward share transfer order | 28 |
| [F1own funds (in Part 1) | 3 |
| own funds requirements (in Part 1) | 3] |
| Partial property transfer | 47 |
| [F15Payment system | 182] |
| [F16Payment Systems Regulator | 183] |
| [F17PRA-authorised person | 89G] |
| [F18PRA | 3, 93, 166 & 183] |
| [F19Private sector reverse property transfer instrument | 42A] |
| Property transfer instrument | 33 |
| Property transfer order | 45 |
| [F4Prudential Regulation Authority | 256B] |
| [F20recognised central counterparty | 89G] |
| [F1the recovery and resolution directive (in Part 1) | 3 |
| relevant capital instruments (in Part 1) | 3 |
| [F3relevant internal liabilities | 3] |
| resolution company | 29A] |
| [F3resolution entity | 3] |
| Resolution fund order | 49 |
| [F3resolution group | 3] |
| [F2Resolution instrument | 12A] |
| Reverse property transfer instrument | 44 |
| Reverse property transfer order | 46 |
| F21[F22... reverse share transfer instrument | 26A] |
| Reverse share transfer order | 29 |
| Securities | 14 |
| Share transfer instrument | 15 |
| Share transfer order | 16 |
| [F2Special bail-in provision | 48B] |
| Special resolution regime | 1 |
| Special resolution objectives | 4 |
| Stabilisation options | 1 |
| Stabilisation powers | 1 |
| Supplemental property transfer instrument | 42 |
| Supplemental share transfer instrument or order | 26 & 27 |
| [F1third-country instrument | 89I] |
| Third party compensation order | 49 & 59 |
| [F1Tier 2 instruments (in Part 1) | 3] |
| Unable to pay debts | 93 & 166 |
| F23. . . | F23. . . |
Textual Amendments
F1Words in s. 261 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 111
F2Words in s. 261 inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 32; S.I. 2014/3160, art. 2(1)(b)
F3Words in s. 261 inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 25
F4Words in s. 261 inserted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 63 (with Sch. 3); S.I. 2017/43, reg. 2(g)
F5Words in s. 261 inserted (5.6.2014 for specified purposes, 1.8.2014 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 100(7), 122(3) (with Sch. 20); S.I. 2014/1447, art. 2(c); S.I. 2014/1847, art. 2
F6Words in s. 261 inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 27(a)
F7Words in s. 261 omitted (1.4.2013) by virtue of The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 25(6)(a) (with regs. 52-58)
F8Words in s. 261 inserted (1.1.2015) by Financial Services Act 2012 (c. 21), ss. 96(6), 122(3) (with Sch. 20); S.I. 2014/3323, art. 2
F9Words in s. 261 inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 62(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F10Words in s. 261 omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 62(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F11Words in s. 261 Table substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 56(2); 2020 c. 1, Sch. 5 para. 1(1)
F12Words in s. 261 omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 30(a)
F13Words in s. 261 inserted (5.6.2014 for specified purposes, 1.8.2014 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 101(9), 122(3) (with Sch. 20); S.I. 2014/1447, art. 2(f); S.I. 2014/1847, art. 2
F14Words in s. 261 Table inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 56(3); 2020 c. 1, Sch. 5 para. 1(1)
F15Words in s. 261 inserted (27.6.2017) by Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 30(b)
F16Words in s. 261 inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(29)
F17Words in s. 261 inserted (1.8.2014) by Financial Services Act 2012 (c. 21), ss. 102(8)(b), 122(3) (with Sch. 20); S.I. 2014/1847, art. 2
F18Words in s. 261 inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 62(c) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F19Words in s. 261 inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 97(11), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F20Words in s. 261 inserted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 25(6)(b) (with regs. 52-58)
F21Words in s. 261 omitted (16.12.2016) by virtue of The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 27(b)(i)
F22Words in s. 261 moved (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 27(b)(ii)
F23Words in s. 261 omitted (1.4.2013) by virtue of The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 25(6)(c) (with regs. 52-58)
Commencement Information
I1S. 261 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 16
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