Statutory Instruments
Financial Services And Markets
Competition
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:
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.
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
(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.
(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 |