Banking Act 2009

[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