- Latest available (Revised)
- Point in Time (01/10/2015)
- Original (As enacted)
Point in time view as at 01/10/2015.
Financial Services Act 2012,
PART 4
is up to date with all changes known to be in force on or before 17 August 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.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
52U.K.Parts 4 to 6 of the Banking Act 2009 are amended as follows.
Commencement Information
I1Sch. 17 para. 52 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
53(1)Section 183 (interpretation of Part 5) is amended as follows.U.K.
(2)In paragraph (c)—
(a)for “section 3(2)” substitute “ section 1I ”, and
(b)omit “(market confidence)”.
(3)For paragraph (e), and the “and” before it, substitute—
“(e)the FCA” means the Financial Conduct Authority,
(f)“Part 4A permission” has the meaning given by section 55A of the Financial Services and Markets Act 2000,
(g)“the PRA” means the Prudential Regulation Authority,
(h)“PRA-regulated activity” has the meaning given by section 22A of the Financial Services and Markets Act 2000, and
(i)“recognised investment exchange” has the meaning given by section 285 of that Act.”
Commencement Information
I2Sch. 17 para. 53 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
54U.K.In section 223 (termination of right to issue), in subsections (5) and (6), for “Part 4” substitute “ Part 4A ”.
Commencement Information
I3Sch. 17 para. 54 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
55(1)Section 232 (definition) is amended as follows.U.K.
(2)In subsections (2) and (6)(a), for “Part 4” substitute “ Part 4A ”.
(3)In subsection (5B), in the definition of “rules”, for “section 139(1)” substitute “ section 137B(1) ”.
(4)After subsection (6) insert—
“(7)The Treasury may by order amend the definition of “investment activity” in subsection (5B), including by defining that term by reference to rules or guidance made by the PRA or the FCA under the Financial Services and Markets Act 2000.”
Commencement Information
I4Sch. 17 para. 55 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
56U.K.In section 234 (regulations: details), for subsection (8)(b) substitute—
“(b)the Prudential Regulation Authority,
(ba)the Financial Conduct Authority,”.
Commencement Information
I5Sch. 17 para. 56 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
57U.K.In section 235 (regulations: procedure), at the end insert—
“(6)An order under section 232(7)—
(a)is to be made by statutory instrument, and
(b)is subject to annulment in pursuance of a resolution of either House of Parliament.”
Commencement Information
I6Sch. 17 para. 57 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
58U.K.In section 246 (information), in subsection (2)—
(a)for paragraph (b) substitute—
“(b)the Prudential Regulation Authority;
(ba)the Financial Conduct Authority;”, and
(b)in paragraph (d), for “or the Financial Services Authority” substitute, “the Prudential Regulation Authority or the Financial Conduct Authority”.
Commencement Information
I7Sch. 17 para. 58 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
59(1)Section 249 (functions) is amended as follows.U.K.
(2)In subsection (1)—
(a)for “Financial Services Authority” substitute “ Prudential Regulation Authority or the Financial Conduct Authority ”, and
(b)for “the Authority” substitute “ that authority ”.
(3)In subsection (2), for “Financial Services Authority” substitute “ Prudential Regulation Authority or the Financial Conduct Authority ”.
(4)Omit subsection (3).
Commencement Information
I8Sch. 17 para. 59 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
60U.K.In section 250 (information), for “Financial Services Authority” substitute “ Prudential Regulation Authority. ”
Commencement Information
I9Sch. 17 para. 60 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
61(1)Section 259 (statutory instruments) is amended as follows.U.K.
(2)In the entry in the Table relating to section 232, for “232” substitute “ 232(6) ”.
(3)After that entry insert—
“232(7) | Investment banks: definition of investment activity | Negative resolution”. |
(4)In the entry in the Table relating to section 249, for “FSA—” substitute “ PRA or FCA— ”.
Commencement Information
I10Sch. 17 para. 61 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
62U.K.In the Table in section 261 (index of defined terms)—
(a)after the entry relating to “enactment” insert—
“FCA | 3, 93, 166 & 183” |
(b)omit the entry relating to the FSA, and
(c)after the entry relating to “partial property transfer” insert—
“PRA | 3, 93, 166 & 183”. |
Commencement Information
I11Sch. 17 para. 62 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: