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The Financial Services (Banking Reform) Act 2013 (Commencement No. 7) Order 2014
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Statutory Instruments
2014 No. 3160 (C. 138)
Banks And Banking
The Financial Services (Banking Reform) Act 2013 (Commencement No. 7) Order 2014
Made
26th November 2014
The Treasury make the following Order in exercise of the powers conferred by section 148(5) of the Financial Services (Banking Reform) Act 2013(1).
Citation and interpretation
1.—(1) This Order may be cited as the Financial Services (Banking Reform) Act 2013 (Commencement No. 7) Order 2014.
(2) In this Order, “the Act” means the Financial Services (Banking Reform) Act 2013.
Appointed day for the coming into force of certain provisions of the Act
2.—(1) 31st December 2014 is the day appointed for the coming into force of the following provisions of the Act—
(a)section 13 (preferential debts (Great Britain)),
(b)section 17 and paragraphs 1 to 33 of Schedule 2 (bail-in stabilisation option), so far as those provisions are not already in force, and
(c)section 133(2)(a) (power of FCA and PRA to make rules applying to parent undertakings).
(2) 31st December 2014 is the day appointed for the coming into force of section 133(1) of the Act, so far as it inserts section 192JB into the Financial Services and Markets Act 2000(2).
Harriet Baldwin
Gavin Barwell
Two of the Lords Commissioners of Her Majesty’s Treasury
26th November 2014
EXPLANATORY NOTE
(This note is not part of the Order)
This Order brings into force certain provisions of the Financial Services (Banking Reform) Act 2013 (c. 33) (“the Act”) relating to preferential debts, the powers of the Bank of England to bail in liabilities of a bank, and the power of the Prudential Regulation Authority and the Financial Conduct Authority to make rules applying to certain holding companies in relation to resolution. This is the seventh commencement order to be made under the Act.
This Order will have no effect on the costs of business and the voluntary sector independent of the provisions this Order brings into force. For that reason, no impact assessment has been produced for this instrument.
NOTE AS TO EARLIER COMMENCEMENT ORDERS
(This note is not part of the Order)
| Provision | Date of Commencement | S.I. No. |
|---|---|---|
| Section 4 (partially) | 1st March 2014 | 2014/377 |
| Section 6 | 1st March 2014 | 2014/377 |
| Sections 14 and 15 | 1st March 2014 | 2014/377 |
| Section 16 | 1st April 2014 | 2014/377 |
| Section 17 (partially) | 1st March 2014 | 2014/377 |
| Section 18 (partially) | 25th July 2014 | 2014/1819 |
| Section 19 | 25th July 2014 | 2014/1819 |
| Section 20 (partially) | 25th July 2014 | 2014/1819 |
| Sections 27 and 28 | 25th July 2014 | 2014/1819 |
| Sections 29 to 31 (partially) | 25th July 2014 | 2014/1819 |
| Section 33 | 25th July 2014 | 2014/1819 |
| Section 35 (partially) | 25th July 2014 | 2014/1819 |
| Sections 39 to 58 | 1st March 2014 | 2014/377 |
| Sections 68 to 110 | 1st March 2014 | 2014/377 |
| Section 59 | 1st April 2014 | 2014/823 |
| Section 60(1), (2), (3) and (7) | 1st April 2014 | 2014/823 |
| Section 60 (so far as not already in force) | 1st April 2015 | 2014/2458 |
| Section 61 (partially) | 1st November 2014 | 2014/2458 |
| Section 61 (so far as not already in force) | 1st April 2015 | 2014/2458 |
| Section 62 | 1st April 2015 | 2014/2458 |
| Sections 63 to 66 | 1st April 2014 | 2014/823 |
| Section 67(2) (partially) | 1st November 2014 | 2014/2458 |
| Section 67(3), (4) and (5) | 1st April 2014 | 2014/823 |
| Section 67 (so far as not already in force) | 1st April 2015 | 2014/2458 |
| Section 121(1) (partially) | 1st March 2014 | 2014/377 |
| Section 121(3) (partially) | 1st March 2014 | 2014/377 |
| Section 129 (partially) | 1st November 2014 | 2014/2458 |
| Section 129 (so far as not already in force) | 1st April 2015 | 2014/2458 |
| Section 130 | 1st March 2014 | 2014/377 |
| Section 132 | 1st March 2014 | 2014/377 |
| Section 134 | 1st March 2014 | 2014/377 |
| Section 135 | 1st March 2014 | 2014/377 |
| Section 136 | 1st March 2014 | 2014/377 |
| Section 137 | 1st March 2014 | 2014/377 |
| Section 139 | 21st March 2014 | 2014/772 |
| Section 140(1) to (3) | 21st March 2014 | 2014/772 |
| Section 140(4) to (6) | 21st March 2014 | 2014/785 |
| Section 141 (partially) | 1st March 2014 | 2014/377 |
| Section 141 (in so far as not already in force) | 1st April 2014 | 2014/377 |
| Schedule 1 | 1st March 2014 | 2014/377 |
| Schedule 2, paragraph 4 (so far as it inserts section 48P of the Banking Act 2009) | 1st March 2014 | 2014/377 |
| Schedule 2, paragraph 6(8) (so far as it inserts sections 60A and 60B of the Banking Act 2009) | 1st March 2014 | 2014/377 |
| Schedule 3, paragraph 2 (partially) | 25th July 2014 | 2014/1819 |
| Schedule 3, paragraphs 7, 8, 9, 16(b)(i), 17(b)(i), 19(2)(b)(i) and 19(3)(b)(i) | 25th July 2014 | 2014/1819 |
| Schedules 4 and 5 | 1st March 2014 | 2014/377 |
| Schedule 8, paragraphs 3 and 9 (both partially) | 1st November 2014 | 2014/2458 |
| Schedule 8, paragraphs 4, 5 and 7 | 1st November 2014 | 2014/2458 |
| Schedule 8 (so far as not already in force) | 1st April 2015 | 2014/2458 |
| Schedule 10 paragraphs 1, 2 and 4 to 9 | 1st March 2014 | 2014/377 |
| Schedule 10 paragraph 3 | 1st April 2014 | 2014/377 |
| Schedule 10 paragraph 10 (partially) | 1st March 2014 | 2014/377 |
| Schedule 10 paragraph 10 (in so far as not already in force) | 1st June 2014 | 2014/377 |
(1)
(2)
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