Financial Services (Banking Reform) Act 2013

136 Amendments of section 429 of FSMA 2000 U.K.

(1) Section 429 of FSMA 2000 (Parliamentary control of statutory instruments) is amended as follows.

(2) In subsection (1)(a) (orders subject to affirmative procedure)—

F1 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) for “144(4), 192(b) or (e), 138K(6)(c)” substitute “ 138K(6)(c), 144(4), 192(b) or (e) ”.

(3) In subsection (2) (regulations subject to affirmative procedure), after “90B,” insert “ 142W, ”.

(4) After subsection (2) insert—

“(2A) Regulations to which subsection (2B) applies are not to be made unless a draft of the regulations has been laid before Parliament and approved by a resolution of each House.

(2B) This subsection applies to regulations which contain provision made under section 410A, other than provision made only by virtue of subsection (2) of that section.”

(5) In subsection (8), for “or 23A” substitute “ , 23A or 142Z ”.

Textual Amendments

F1 S. 136(2)(a) omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 22(7); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with reg. 3)

Commencement Information

I1 S. 136 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1