Banking Act 2009 (c. 1)

Part 1 U.K. Special Resolution Regime

Modifications etc. (not altering text)

C1 Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2

C2 Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2

[F1 Chapter 4 U.K. Information, investigation and enforcement

Textual Amendments

F1 Pt. 1 Ch. 4 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 97

Enforcement of relevant requirements U.K.

83Z1. Delegation of enforcement functions U.K.

(1) The Bank of England may, by agreement made with the [F2 FCA], delegate to [F3 the FCA] its enforcement functions, subject to such restrictions and conditions, and for such period, as may be specified in the agreement.

(2) For the purposes of this section—

(a) “enforcement functions” of the Bank of England are its functions under, or by virtue of—

(i) section 83ZD;

(ii) section 83ZF;

(iii) section 83ZJ;

(iv) section 83ZL;

(v) section 83ZO;

(vi) sections 83ZQ to 83ZZ;

F4 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) The Bank of England must make provision for the reimbursement of any expenses incurred by the [F5 FCA] in the performance, in accordance with the terms of any agreement, of any functions delegated under this section.]

Textual Amendments

F2 Word in s. 83Z1(1) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 54(2)(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)

F3 Words in s. 83Z1(1) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 54(2)(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)

F4 S. 83Z1(2)(b) omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 54(3) (with Sch. 3); S.I. 2017/43, reg. 2(g)

F5 Word in s. 83Z1(3) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 54(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)