2014 No. 3074
Financial Services And Markets
Immigration
The Immigration Act 2014 (Bank Accounts) (Amendment) Order 2014
Made 19th November 2014
Coming into force 12th December 2014

The Treasury, in exercise of the powers conferred by sections 43(1) and 43(2) of the Immigration Act 2014, make the following Order.
2014 c.22.
In accordance with section 74(2) of that Act, a draft of this instrument was laid before Parliament and approved by a resolution of each House of Parliament.

1 Citation and commencement
This Order may be cited as the Immigration Act 2014 (Bank Accounts) (Amendment) Order 2014 and comes into force on 12th December 2014.

2 Prohibition on opening current accounts for disqualified persons
After subsection (6) of section 40 of the Immigration Act 2014, insert—

“7 The prohibition in subsection (1) does not apply in the case of an account to be operated (or an account that is operated) by or for a person or body of a description specified in an order made by the Treasury.”

Mark Lancaster David Evennett Two of the Lords Commissioners of Her Majesty’s Treasury 19th November 2014

EXPLANATORY NOTE
(This note is not part of the Order)
This Order amends section 40 (Prohibition on opening current account for disqualified persons) of the Immigration Act 2014 (c. 22) (the “Act”) to provide for the Treasury to specify by order descriptions of persons or bodies with the effect that the prohibition in section 40(1) does not apply in the case of an account to be operated (or an account that is operated) by or for such a person or body.
A person is “disqualified” for the purposes of section 40, per subsections 40(2) and 40(3)(b) of the Act, (a) if he or she is in the UK, (b) if he or she requires leave to enter or remain in the UK but does not have such leave, and (c) if he or she is a person for whom the Secretary of State considers that a current account should not be opened by a bank or building society.
A full impact assessment of the effect that this Order will have on the costs of business and the voluntary sector is available from Her Majesty’s Treasury, 1 Horse Guards Road, London SW1A 2HQ or on www.gov.uk and is published alongside the Order on www.legislation.gov.uk.