http://www.legislation.gov.uk/id/uksi/1992/3218

http://www.legislation.gov.uk/uksi/1992/3218/regulation/10/made

The Banking Coordination (Second Council Directive) Regulations 1992

Banking

Credit licences

King's Printer of Acts of Parliament

2016-10-18

BANKING

These Regulations give effect to the Second Council Directive 89/646/EEC on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions (OJ No. L386, 30.12.89, p.1), and to certain provisions of Council Directive 77/780/EEC (OJ No. L322, 17.12.77, p.30), which is amended by the Second Council Directive. They also give effect to the Council Directive 92/30/EEC on the supervision of credit institutions on a consolidated basis (OJ No. L110, 28.4.92, p.52). The Regulations come into force on 1st January 1993.

The Banking Coordination (Second Council Directive) Regulations 1992

regs.8-10

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.23

The Banking Coordination (Second Council Directive) Regulations 1992

regs.12-13A

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.25

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1A)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(3)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(2B)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(3)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2B(3)(a)

(b)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(4)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2B-2C

The Banking (Gibraltar) Regulations 1999

reg. 2(3)

reg. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.8. para 9(2)

Criminal Justice Act 1993

s. 70(1)

(4)

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.8. para 10(3)

Criminal Justice Act 1993

s. 70(1)

(4)

The Banking Coordination (Second Council Directive) Regulations 1992

Regulations

The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

art. 3(2)(a)

art. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg 10

The Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) Order 2001

art 4(1)

art 4(3)(b)

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

The Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Information Requirements and Investigations) Order 2001

art 12

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2A

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(d)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.5(3)

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(f)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.13A

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(g)

The Banking Coordination (Second Council Directive) Regulations 1992

reg 2B

The Banking (Gibraltar) Regulations 1999

reg.2(3)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2C

The Banking (Gibraltar) Regulations 1999

reg.2(4)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 9(2)(c)(i)

(ii)

The Credit Institutions (Protection of Depositors)Regulations 1995

reg. 50(1)

reg. 54

reg. 1(2)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 9(2)(d)(i)

(ii)

The Credit Institutions (Protection of Depositors)Regulations 1995

reg. 50(2)

reg. 54

reg. 1(2)

The Banking Coordination (Second Council Directive) Regulations 1992

defn of European authorised institution

Finance Act 1994

s. 177(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(2B)

The Financial Institutions (Prudential Supervision) Regulations 1996

Sch. 5

para. 10

reg. 1(2)

PART IIRECOGNITION OF EUROPEAN INSTITUTIONS

Functions of Bank

Power to restrict listed activities10

1

In this regulation “restriction” means a direction that a European institution or former European institution—

a

may not carry on in the United Kingdom any home-regulated activity (other than the acceptance of deposits) which is specified in the direction; or

b

may not carry on in the United Kingdom, otherwise than in accordance with such condition or conditions as may be specified in the direction, any homeregulated activity which is so specified.

2

Where it appears to the Bank that the situation as respects a European institution is such that the powers conferred by paragraph (2) of regulation 9 above are exercisable, the Bank may, instead of or as well as imposing a prohibition, impose such restriction as appears to it desirable.

3

Where it appears to the Bank that the situation as respects a former European authorised institution is such that the powers conferred by paragraph (2) of regulation 9 above would be exercisable if the institution were still a European authorised institution, the Bank may impose such restriction as appears to it desirable.

4

Subsection (4) of section 12 of the Banking Act (examples of conditions that may be imposed) applies for the purposes of this regulation as it applies for the purposes of that section.

5

Any restriction imposed under this regulation—

a

may be withdrawn; or

b

may be varied with the agreement of the institution concerned,

by written notice served by the Bank on the institution; and any such notice shall take effect on such date as is specified in the notice.

6

An institution which fails to comply with a restriction shall be guilty of an offence and liable—

a

on conviction on indictment, to a fine;

b

on summary conviction, to a fine not exceeding the statutory maximum.

7

The fact that a restriction has not been complied with (whether or not constituting an offence under paragraph (6) above) shall not invalidate any transaction but, in the case of a European institution, shall be a ground for the imposition of a prohibition under regulation 9 above.

8

In this regulation “former European authorised institution” means an institution which was formerly a European authorised institution and continues to have a liability in respect of any deposit for which it had a liability when it was a European authorised institution.