Financial Services and Markets Act 2023 (c. 29)

PART 1 U.K. Regulatory framework

CHAPTER 2 U.K. New regulatory powers

Financial market infrastructure: general rules and requirements U.K.

Valid from 01/01/2024

12 Treasury directions to Bank of England: restrictions U.K.

(1) Section 4 of the Bank of England Act 1946 (Treasury directions to the Bank) is amended as follows.

(2) In subsection (1), after paragraph (b) insert—

“(c) the exercise by the Bank of its functions under any enactment in relation to the following bodies—

(i) recognised central counterparties;

(ii) recognised CSDs;

(iii) third country central counterparties;

(iv) third country CSDs.”

(3) After subsection (1) insert—

“(2A) Expressions used in subsection (1)(c) have the same meaning as in section 285 of the Financial Services and Markets Act 2000 (exemption for recognised bodies etc).”

Commencement Information

I1 S. 12 not in force at Royal Assent, see s. 86(3)