The Financial Services and Markets Act 2023 (Commencement No. 4 and Transitional and Saving Provisions) (Amendment) Regulations 2023

Provisions coming into force at 1.00 a.m. on 1st January 2024

10.  The following provisions of the Act come into force at 1.00 a.m. on 1st January 2024—

(a) section 9(1) to (5) (rules relating to central counterparties and central securities depositories);

(b) section 10 (central counterparties and central securities depositories: other requirements);

(c) section 12 (Treasury directions to Bank of England: restrictions);

(d) section 48 (exercise of FMI regulatory powers), except—

(i) so far as the insertion of section 30E(1)(c) (regulatory principles) into the Bank of England Act 1998 requires the Bank to have regard to the desirability of sustainable growth in the economy of the United Kingdom in a way consistent with contributing towards achieving compliance by the Secretary of State with section 5 of the Environment Act 2021 (environmental targets)(1);

(ii) so far as it inserts section 30I(2) (recommendations by Treasury) into the Bank of England Act 1998;

(e) section 49 (Bank of England: rule-making powers);

(f) section 50 (application of FSMA 2000 to FMI functions), except so far as it applies section 138JA(2)(a), (3) and (10) of FSMA 2000 in relation to rules made by the Bank.

(1)

2021 c. 30; see regulation 12(b).