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Financial Services Act 2012
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- UK Public General Acts
- 2012 c. 21
- SCHEDULE 17
- PART 3
- Paragraph 50
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Financial Services Act 2012, Paragraph 50 is up to date with all changes known to be in force on or before 05 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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Changes and effects yet to be applied to Schedule 17 Paragraph 50:
- Act power to apply conferred (temp.) by 2014 c. 21 s. 79(4)
- Act power to apply conferred (temp.) by 2014 c. 21 s. 81(10)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
- Act power to apply conferred (temp.) by 2014 c. 21 s. 79(4)
- Act power to apply conferred (temp.) by 2014 c. 21 s. 81(10)
This section has no associated Explanatory Notes
50U.K.After section 157 insert—
“157ABanks not regulated by PRA
(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.
TABLE OF MODIFICATIONS
| Provision | Modification |
|---|---|
| Section 147 | The bank administrator must send the statement to the FCA (and need not send a copy of it to the PRA). |
| Section 153 | Ignore the reference to the PRA in subsection (3). |
| Section 157 | Ignore the reference to the PRA in subsection (1).” |
Commencement Information
I1Sch. 17 para. 50 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
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