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