Banking Act 2009

[F183AModifications of PartU.K.
This section has no associated Explanatory Notes

(1)In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.

(2)In this section—

  • “ FCA-regulated bank ” means a bank which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000;

  • “ immediate group ” has the meaning given by section 421ZA of the Financial Services and Markets Act 2000;

  • “ PRA-authorised person ” has the meaning given by section 2B(5) of that Act.

TABLE OF MODIFICATIONS
ProvisionModification
[F2Section 6A Treat the reference to the PRA in subsections (3)(a) and (7) as references to the FCA.
Section 6C Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. ]
Section 7

(a) Treat the references to the PRA in subsections [F3(1), (5A), (5C), (5D) and (5F)] as references to the FCA.

(b) F4. . .

(c) If the bank has as a member of its immediate group a PRA-authorised person the FCA must consult the PRA before determining whether or not Condition 2 is met.

[F5(d) Subsections (5G)(a) and (5H)(a) do not apply unless the bank has as a member of its immediate group a PRA-authorised person.]

[F6Section 7A In subsection (1), the reference to the PRA does not apply unless the bank has as a member of its immediate group a PRA-authorised person ]
F7. . .F7. . .
F7. . .F7. . .
[F8Section 8ZA

(a) Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.

(b) Treat the definition of “normal insolvency proceedings” in subsection (5) as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011]

Section 9Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
[F9Section 12AA Treat the definition of “normal insolvency proceedings” in subsection (2) as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011 ]
Section 24Ignore subsection (1)(c).
Section 25Ignore subsection (2)(c).
Section 26Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
[F10Section 26ZA Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
Section 26ASubsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 27Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 28Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 29Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 30Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 31Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 41Ignore subsection (1)(c).
[F11Section 41A Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
Section 42Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 42ASubsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 43Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 44Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
[F11Section 44A Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
[F12Section 44D Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 44ESubsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
Section 45Subsection (8)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 46Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
[F11Section 48H Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 48U Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 48V Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.
Section 48W Subsection (9)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
[F9Section 63 Treat the reference to insolvency in subsection (1A), as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011
Section 66 Treat the reference to insolvency in subsection (1ZA), as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011
Section 81AA Treat the references to the PRA in subsections (3)(b) and (5)(a) as references to the FCA.]
Section 81B

[F13(a) Treat the references to the PRA in subsections (2) and (2A) as references to the FCA.

(b) Ignore subsection (6)(b) unless the bank has as a member of its immediate group a PRA-authorised person.]

[F14Section 81ZBA

(b) Ignore subsection (8)(a) unless the bank has as a member of its immediate group a PRA-authorised person.

(c) Treat the definition of “normal insolvency proceedings” in subsection (9) as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011]

[F11Section 81BA

[F15(a) Treat the references to the PRA in subsections (2)(a) and (2A) as references to the FCA.

(b)] Subsection (5)(b) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]

Section 82

(a) Treat the reference to the PRA in subsection (2) as a reference to the FCA.

(b) Ignore subsection (5)(a).

[F16Section 89H Treat the definition of “normal insolvency proceedings” in subsection (7) as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011]]

Textual Amendments

F1 S. 83A and cross-heading inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 28 (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F2Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(2)

F3Words in s. 83A(2) table substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(3)(a)

F4Words in s. 83A(2) table omitted (1.1.2015) by virtue of The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(3)(b)

F6Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(4)

F7Words in s. 83A(2) table omitted (1.1.2015) by virtue of The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(5)

F8Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(6)

F9Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(7)

F13Words in s. 83A(2) table substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(8)

F14Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(9)