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The Financial Institutions (Prudential Supervision) Regulations 1996
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Banking Act
1. In the Table in subsection (1) of section 84 of the Banking Act (disclosure for facilitating discharge of functions by other supervisory authorities)—
(a)the entry relating to the Friendly Societies Commission shall be numbered 5A; and
(b)in entry 15, the words “or section 84 of the Companies Act 1989” and the words “or section” shall be omitted.
2. After subsection (2A) of section 106 of the Banking Act (interpretation) there shall be inserted the following subsections—
“(2B) Any reference in this Act to the First Council Directive or the Second Council Directive is a reference to that Directive as amended by the Prudential Supervision Directive (within the meaning of the Financial Institutions (Prudential Supervision) Regulations 1996).
(2C) Any reference in this Act—
(a)to an undertaking being closely linked with any person, or being closely linked with any person by control; or
(b)to an undertaking’s close links with any person,
shall be construed in accordance with regulation 2 of those Regulations.”
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