Chwilio Deddfwriaeth

Bank of England and Financial Services Act 2016

Pa Fersiwn

 Help about what version

Nodweddion Uwch

 Help about advanced features

Changes to legislation:

There are currently no known outstanding effects for the Bank of England and Financial Services Act 2016, Cross Heading: Illegal money lending. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

Illegal money lendingE+W+S+N.I.

29Illegal money lendingE+W+S+N.I.

(1)The Financial Services and Markets Act 2000 is amended as follows.

(2)After Part 20A insert—

PART 20BE+W+S+N.I.Illegal Money Lending
333SFinancial assistance for action against illegal money lending

(1)The Treasury may make grants or loans, or give any other form of financial assistance, to any person for the purpose of taking action against illegal money lending.

(2)Taking action against illegal money lending includes—

(a)investigating illegal money lending and offences connected with illegal money lending;

(b)prosecuting, or taking other enforcement action in respect of, illegal money lending and offences connected with illegal money lending;

(c)providing education, information and advice about illegal money lending, and providing support to victims of illegal money lending;

(d)undertaking or commissioning research into the effectiveness of activities of the kind described in paragraphs (a) to (c);

(e)providing advice, assistance and support (including financial support) to, and oversight of, persons engaged in activities of the kind described in paragraphs (a) to (c).

(3)A grant, loan or other form of financial assistance under subsection (1) may be made or given on such terms as the Treasury consider appropriate.

(4)Illegal money lending” means carrying on a regulated activity within article 60B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (regulated credit agreements) in circumstances which constitute an authorisation offence.

333TFunding of action against illegal money lending

(1)The Treasury must, from time to time, notify the FCA of the amount of the Treasury's illegal money lending costs.

(2)The FCA must make rules requiring authorised persons, or any specified class of authorised person, to pay to the FCA specified amounts, or amounts calculated in a specified way, with a view to recovering the amount notified under subsection (1).

(3)The amounts to be paid under the rules may include a component to recover the expenses of the FCA in collecting the payments (“collection costs”).

(4)Before the FCA publishes a draft of the rules it must consult the Treasury.

(5)The rules may be made only with the consent of the Treasury.

(6)The Treasury may notify the FCA of matters that they will take into account when deciding whether or not to give consent for the purposes of subsection (5).

(7)The FCA must have regard to any matters notified under subsection (6) before publishing a draft of rules to be made under this section.

(8)The FCA must pay to the Treasury the amounts that it receives under rules made under this section apart from amounts in respect of its collection costs (which it may keep).

(9)The Treasury must pay into the Consolidated Fund the amounts received by them under subsection (8).

(10)In this section the “Treasury's illegal money lending costs” means the expenses incurred, or expected to be incurred, by the Treasury—

(a)in connection with providing grants, loans, or other financial assistance to any person (under section 333S or otherwise) for the purpose of taking action against illegal money lending;

(b)in undertaking or commissioning research relating to taking action against illegal money lending.

(11)The Treasury may by regulations amend the definition of the “Treasury's illegal money lending costs”.

(12)In this section “illegal money lending” and “taking action against illegal money lending” have the same meaning as in section 333S.

(3)In section 138F (notification of rules), for “or 333R” substitute “, 333R or 333T”.

(4)In section 138I (consultation by FCA)—

(a)in subsection (6), after paragraph (cb) insert—

(cc)section 333T;;

(b)in subsection (10)(a), for “or 333R” substitute “, 333R or 333T”.

(5)In section 429(2) (regulations subject to affirmative procedure), for “or 333R” substitute “, 333R or 333T”.

(6)In paragraph 23 of Schedule 1ZA (FCA fees rules)—

(a)in sub-paragraph (1) for “and 333R” substitute “, 333R and 333T”;

(b)in sub-paragraph (2ZA)(b) for “section 333R” substitute “sections 333R and 333T”.

Annotations: Help about Annotation
Close

Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I1S. 29 in force at 6.7.2016 by S.I. 2016/627, reg. 2(1)(w)

Yn ôl i’r brig

Options/Help

Print Options

Close

Mae deddfwriaeth ar gael mewn fersiynau gwahanol:

Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.

Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed):Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.

Close

See additional information alongside the content

Rhychwant ddaearyddol: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Dangos Llinell Amser Newidiadau: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Dewisiadau Agor

Dewisiadau gwahanol i agor deddfwriaeth er mwyn gweld rhagor o gynnwys ar y sgrin ar yr un pryd

Close

Nodiadau Esboniadol

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

Close

Rhagor o Adnoddau

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • y PDF print gwreiddiol y fel deddfwyd fersiwn a ddefnyddiwyd am y copi print
  • rhestr o newidiadau a wnaed gan a/neu yn effeithio ar yr eitem hon o ddeddfwriaeth
  • manylion rhoi grym a newid cyffredinol
  • pob fformat o’r holl ddogfennau cysylltiedig
  • slipiau cywiro
  • dolenni i ddeddfwriaeth gysylltiedig ac adnoddau gwybodaeth eraill
Close

Rhagor o Adnoddau

Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:

  • y PDF print gwreiddiol y fel deddfwyd fersiwn a ddefnyddiwyd am y copi print
  • slipiau cywiro

liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys

  • rhestr o newidiadau a wnaed gan a/neu yn effeithio ar yr eitem hon o ddeddfwriaeth
  • manylion rhoi grym a newid cyffredinol
  • pob fformat o’r holl ddogfennau cysylltiedig
  • dolenni i ddeddfwriaeth gysylltiedig ac adnoddau gwybodaeth eraill