The Financial Services (Banking Reform) Act 2013 (Commencement No. 4) Order 2014

Statutory Instruments

2014 No. 823 (C. 32)

Financial Services And Markets

Competition

The Financial Services (Banking Reform) Act 2013 (Commencement No. 4) Order 2014

Made

25th March 2014

The Treasury, in exercise of the powers conferred by section 148(5) of the Financial Services (Banking Reform) Act 2013(1), make the following Order:

Citation and interpretation

1.—(1) This Order may be cited as the Financial Services (Banking Reform) Act 2013 (Commencement No. 4) 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.  1st April 2014 is the day appointed for the coming into force of the following provisions of the Act—

(a) section 59 (the Regulator’s functions under Part 4 of the Enterprise Act 2002);

(b) section 60(1),(2),(3) and (7) (restrictions on the exercise of functions under Part 4 of the Enterprise Act 2002);

(c) section 63 (provision of information and assistance to a CMA group);

(d) section 64 (function of keeping markets under review);

(e) section 65 (exclusion of general duties);

(f) section 66 (concurrent competition powers: supplementary provision);

(g) section 67(3), (4) and (5) (amendments relating to Regulator’s competition powers).

Sam Gyimah

Stephen Crabb

Two of the Lords Commissioners of Her Majesty’s Treasury

25th March 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 the competition functions given to the Payment Services Regulator (established under this Act) concurrently with the Competition and Markets Authority (established under the Enterprise and Regulatory Reform Act 2013). This is the fourth 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 39 to 58 and 68 to 110	1st March 2014	2014/377
Section 121(1) (partially)	1st March 2014	2014/377
Section 121(3) (partially)	1st March 2014	2014/377
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
Schedules 4 and 5	1st March 2014	2014/377
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)

2013 c. 33.