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Banking Act 2009, Cross Heading: Banks not regulated by PRA is up to date with all changes known to be in force on or before 26 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
Textual Amendments
F1 S. 83A and cross-heading inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 28 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
(1)In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.
(2)In this section—
“ FCA-regulated bank ” means a bank which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000;
“ immediate group ” has the meaning given by section 421ZA of the Financial Services and Markets Act 2000;
“ PRA-authorised person ” has the meaning given by section 2B(5) of that Act.
Provision | Modification |
[F2Section 3 | Treat the definition of “normal insolvency proceedings” in subsection (1) as including investment bank special administration established by the Investment Bank Special Administration Regulations 2011 (S.I. 2011/245).] |
[F3Section 6A | Treat the reference to the PRA in subsections (3)(a) and (7) as references to the FCA. |
Section 6C | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. ] |
Section 7 | (a) Treat the references to the PRA in subsections [F4(1), (5A), (5C), (5D) and (5F)] as references to the FCA. (b) F5. . . (c) If the bank has as a member of its immediate group a PRA-authorised person the FCA must consult the PRA before determining whether or not Condition 2 is met. [F6(d) Subsections (5G)(a) and (5H)(a) do not apply unless the bank has as a member of its immediate group a PRA-authorised person.] |
[F7Section 7A | In subsection (1), the reference to the PRA does not apply unless the bank has as a member of its immediate group a PRA-authorised person ] |
F8. . . | F8. . . |
F8. . . | F8. . . |
[F9Section 8ZA | (a) Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. F10. . .] |
Section 9 | Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
F11. . . | F11. . . |
Section 24 | Ignore subsection (1)(c). |
Section 25 | Ignore subsection (2)(c). |
Section 26 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
[F12Section 26ZA | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.] |
Section 26A | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 27 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 28 | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 29 | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 30 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 31 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 41 | Ignore subsection (1)(c). |
[F13Section 41A | Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. ] |
Section 42 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 42A | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 43 | Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 44 | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
[F13Section 44A | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. ] |
[F14Section 44D | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 44E | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.] |
Section 45 | Subsection (8)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 46 | Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
[F13Section 48H | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 48U | Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 48V | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 48W | Subsection (9)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.] |
[F15Section 63 | Treat the reference to insolvency in subsection (1A), as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011 |
Section 66 | Treat the reference to insolvency in subsection (1ZA), as including investment bank special administration, established by the Investment Bank Special Administration Regulations 2011 |
Section 81AA | Treat the references to the PRA in subsections (3)(b) and (5)(a) as references to the FCA. ] |
Section 81B | [F16(a) Treat the references to the PRA in subsections (2) and (2A) as references to the FCA. (b) Ignore subsection (6)(b) unless the bank has as a member of its immediate group a PRA-authorised person.] |
[F17Section 81ZZBA | Treat the reference to the PRA in subsection (4) as a reference to the FCA. |
Section 81ZZBB | (a) Treat the references to the PRA in subsections (2) and (6) as references to the FCA. (b) Subsections (7)(b) and (8)(b) do not apply unless the banking group company has as a member of its immediate group a PRA-authorised person.] |
[F18Section 81ZBA | (a) Treat the references to the PRA in subsections (2)(a) and (2A) as references to the FCA. (b) Ignore subsection (8)(a) unless the bank has as a member of its immediate group a PRA-authorised person. F19. . .] |
[F17Section 81ZBB | Treat the reference to the PRA in subsection (4) as a reference to the FCA. |
Section 81ZBC | (a) Treat the references to the PRA in subsections (2) and (6) as references to the FCA. (b) Subsections (7)(b) and (8)(b) do not apply unless the banking group company has as a member of its immediate group a PRA-authorised person.] |
[F13Section 81BA | [F20(a) Treat the references to the PRA in subsections (2)(a) and (2A) as references to the FCA. (b)] Subsection (5)(b) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. ] |
[F17Section 81BB | Treat the reference to the PRA in subsection (4) as a reference to the FCA. |
Section 81BC | (a) Treat the references to the PRA in subsections (2) and (6) as references to the FCA. (b) Subsections (7)(b) and (8)(b) do not apply unless the banking group company has as a member of its immediate group a PRA-authorised person.] |
Section 82 | (a) Treat the reference to the PRA in subsection (2) as a reference to the FCA. (b) Ignore subsection (5)(a). |
F21. . . | F21. . .] |
Textual Amendments
F2Words in s. 83A table inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 39(2); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(2)
F4Words in s. 83A(2) table substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(3)(a)
F5Words in s. 83A(2) table omitted (1.1.2015) by virtue of The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(3)(b)
F6Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(3)(c)
F7Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(4)
F8Words in s. 83A(2) table omitted (1.1.2015) by virtue of The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(5)
F9Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(6)
F10Words in s. 83A table omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 39(3); 2020 c. 1, Sch. 5 para. 1(1)
F11Words in s. 83A table omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 39(4); 2020 c. 1, Sch. 5 para. 1(1)
F12Words in s. 83A table inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 9(2)
F13Words in s. 83A(2) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 8; S.I. 2014/3160, art. 2(1)(b)
F14Words in s. 83A table inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 13(4)
F15Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(7)
F16Words in s. 83A(2) table substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(8)
F17Words in s. 83A(2) table inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 21(2)
F18Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(9)
F19Words in s. 83A table omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 39(5); 2020 c. 1, Sch. 5 para. 1(1)
F20Words in s. 83A(2) table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 99(10)
F21Words in s. 83A table omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 39(6); 2020 c. 1, Sch. 5 para. 1(1)
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