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Financial Services (Banking Reform) Act 2013

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There are currently no known outstanding effects for the Financial Services (Banking Reform) Act 2013, Paragraph 15. Help about Changes to Legislation

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15(1)Section 415B of FSMA 2000 (consultation in relation to taking certain enforcement action) is amended as follows.U.K.

(2)In subsection (4)—

(a)in paragraph (b), for “significant-influence” substitute “ relevant senior management ”, and

(b)omit the definitions appearing after that paragraph.

(3)After subsection (4) insert—

(5)In subsection (4)—

  • arrangement” has the same meaning as in section 59;

  • relevant senior management function” means a function which the FCA is satisfied is a senior management function as defined in section 59ZA (whether or not it has been designated as such under section 59(6A) or (6B)).

Commencement Information

I1Sch. 3 para. 15 in force at 7.3.2016 by S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

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