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Banking Act 2009

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Status:

Point in time view as at 01/01/2015. This version of this provision has been superseded. Help about Status

Changes to legislation:

Banking Act 2009, Section 70D is up to date with all changes known to be in force on or before 26 November 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

[F170D.Suspension: general provisionsU.K.
This section has no associated Explanatory Notes

(1)For the purposes of sections 70A to 70C—

  • “business day” means any day other than a Saturday, a Sunday, or a day which is a bank holiday under the Banking and Financial Dealings Act 1971 in any part of the United Kingdom;

  • “excluded person” means—

    (a)

    a person who has been declared to be, or who is an operator of, a designated system under regulation 4 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999,

    (b)

    a person who has been designated by an EEA state as a system under Article 2(a) of the Directive 98/26/EC of the European Parliament and of the Council on settlement finality in payment and securities settlement systems or an operator of such a system,

    (c)

    a recognised central counterparty, EEA central counterparty or third country central counterparty, or

    (d)

    a central bank.

(2)For the purposes of subsection (1), “EEA central counterparty”, “recognised central counterparty” and “third country central counterparty” have the meaning given in section 285 of the Financial Services and Markets Act 2000.]

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