The Banking Act 2009 (Mandatory Compensation Arrangements Following Bail-in) Regulations 2014

Statutory Instruments

2014 No. 3330

Banks And Banking

The Banking Act 2009 (Mandatory Compensation Arrangements Following Bail-in) Regulations 2014

Made

17th December 2014

Coming into force

1st January 2015

The Treasury are designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to financial services.

The Treasury, in exercise of the powers conferred by sections 60A(1) to (4) and 259(1) of the Banking Act 2009(3) and section 2(2) of the European Communities Act 1972, make the following Regulations.

A draft of this Order has been laid before and approved by a resolution of each House of Parliament in accordance with section 60A(5) of the Banking Act 2009, and paragraph 2(2) of Schedule 2 to the European Communities Act 1972.

(1)

SI 2012/1759.

(2)

1972 c.68. Section 2(2) was amended by section 27 of the Legislative and Regulatory Reform Act 2006 (c.51) and by section 3 of, and the Schedule to, the European Union (Amendment) Act 2008 (c.7). By virtue of the amendment of section 1(2) by section 1 of the European Economic Area Act 1993 (c.51), regulations may be made under s. 2(2) of the European Communities Act 1972 to implement obligations of the United Kingdom created or arising by or under the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 (Cm 2073) and the Protocol adjusting the Agreement signed in Brussels on 17th March 1993 (Cm 2183).

(3)

2009 c. 1; section 60A was inserted by the Financial Services (Banking Reform) Act 2013 (c. 33), Schedule 2, paragraph 6(8).