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Banking Act 2009
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Changes over time for: Section 89G
Version Superseded: 31/12/2023
Alternative versions:
- 05/06/2014- Amendment
- 01/08/2014- Amendment
- 01/08/2014
Point in time - 31/12/2023- Amendment
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Banking Act 2009, Section 89G is up to date with all changes known to be in force on or before 17 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.
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[F189GInterpretation: “[F2recognised central counterparty]” &c.U.K.
This section has no associated Explanatory Notes
[F3(1)In this Part, “recognised central counterparty” has the meaning given by section 285 of the Financial Services and Markets Act 2000.]
(2)But [F4“recognised central counterparty” does not include a recognised clearing house] which is also—
(a)a bank,
(b)a building society (within the meaning of section 119 of the Building Societies Act 1986),
(c)a credit union (within the meaning of section 31 of the Credit Unions Act 1979 or Article 2(2) of the Credit Unions (Northern Ireland) Order 1985), or
(d)an investment firm.
[F5(3)Where a stabilisation power is exercised in respect of a recognised central counterparty, the body does not cease to be a recognised central counterparty for the purposes of this Part if the recognition order under Part 18 of the Financial Services and Markets Act 2000 is later revoked.]
(4)In this Part—
F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
“PRA-authorised person” has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000.]
Textual Amendments
F1Ss. 89B-89G and cross-heading 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. 102(6), 122(3) (with Sch. 20); S.I. 2014/1447, art. 2(h); S.I. 2014/1847, art. 2
F2Words in Act substituted (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(2) (with regs. 52-58)
F3S. 89G(1) substituted (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(5)(a) (with regs. 52-58)
F4Words in s. 89G(2) substituted (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(5)(b) (with regs. 52-58)
F5S. 89G(3) substituted (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(5)(c) (with regs. 52-58)
F6Words in s. 89G(4) 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(5)(d) (with regs. 52-58)
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