The Banking Coordination (Second Council Directive) Regulations 1992

Statutory Instrument 1992 No. 3218

The Banking Coordination (Second Council Directive) Regulations 1992

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STATUTORY INSTRUMENTS

1992 No. 3218

BANKING

The Banking Coordination (Second Council Directive) Regulations 1992

Made

16th December 1992

Coming into force

1st January 1993

ARRANGEMENT OF REGULATIONS

PART I
GENERAL
1.	Citation and commencement.
2.	Interpretation: general.
PART II
RECOGNITION IN UK OF EUROPEAN INSTITUTIONS
Preliminary
3.	European institutions.
4.	Authorised and permitted activities.
Effect of recognition
5.	Authorisations and licences not required.
6.	Procedural requirements for carrying on listed activities.
Effect of non-recognition
7.	Prohibition on carrying on certain listed activities.
Functions of Bank
8.	Duty to prepare for supervision.
9.	Power to prohibit the acceptance of deposits.
10.	Power to restrict listed activities.
11.	Limitations on Bank's powers.
12.	Prohibition or restriction on information from supervisory authority.
13.	Obligation of Bank where institution ceases to be a European institution etc.
Functions of Board
14.	Duty to prepare for supervision.
15.	Power to prohibit the carrying on of investment business.
16.	Power to restrict the carrying on of investment business.
17.	Limitations on Board's powers.
Functions of Director
18.	Power to prohibit the carrying on of Consumer Credit Act business.
19.	Power to restrict the carrying on of Consumer Credit Act business.
PART III
RECOGNITION IN OTHER MEMBER STATES OF UK INSTITUTIONS
Preliminary
20.	UK institutions etc.
21.	Authorised and permitted activities.
Procedural requirements
22.	Procedural requirements for carrying on certain listed activities.
Regulation of UK subsidiaries for recognition purposes
23.	Restriction on activities of UK subsidiaries.
24.	Restriction on information from supervisory authority.
PART IV
AMENDMENTS OF BANKING ACT
Authorisations
25.	Applications for authorisation.
26.	Grant and refusal of authorisation.
27.	Minimum criteria for authorisation.
28.	Revocation of authorisation.
29.	Revocation or restriction on information from supervisory authority.
30.	Notice of revocation, restriction or surrender.
Objections to controllers
31.	Objections to controllers.
Implementation of certain EC decisions
32.	Implementation of certain EC decisions.
Information and investigations
33.	Notification of controllers.
34.	Notification of acquisition of significant shareholding.
35.	Prior notification of ceasing to be a relevant controller.
36.	Information and production of documents.
37.	Investigations on behalf of the Bank.
Restrictions on disclosure of information
38.	Disclosure for facilitating discharge of functions by the Bank.
39.	Disclosure for facilitating discharge of functions by other supervisory bodies.
40.	Other permitted disclosures.
41.	Information supplied to Bank by relevant overseas authority etc.
42.	Disclosure of information obtained under other Acts.
Interpretation
43.	Meaning of "controller" and "associate".
44.	Meaning of "related company".
45.	Other interpretation of Banking Act.
Miscellaneous
46.	Savings for certain institutions.
47.	Other amendments of Banking Act.
PART V
AMENDMENTS OF FINANCIAL SERVICES ACT
48.	Authorisation by membership of recognised self-regulating organisations.
49.	Applications for authorisation.
50.	Grant and refusal of authorisation.
51.	Authorisation in other member State.
52.	Exempted persons.
53.	Reciprocal facilities for banking business.
54.	The Board's functions under the Regulations.
55.	Other amendments of Financial Services Act.
56.	Construction of Part V.
PART VI
AMENDMENTS OF CONSUMER CREDIT ACT
57.	Effect of standard licence.
58.	Grant of standard licence.
59.	Conduct of business.
60.	The register.
61.	Enforcement of agreements.
62.	Restrictions on disclosure of information.
63.	Power to modify subordinate legislation in relation to European institutions.
PART VII
AMENDMENTS OF INSURANCE COMPANIES ACT
64.	Withdrawal of authorisation.
65.	Application of Part II of Act.
66.	Meaning of "insurance business".
PART VIII
AMENDMENTS OF BUILDING SOCIETIES ACT
Constitution
67.	Establishment of building societies.
68.	Initial authorisation to raise funds and borrow money.
Powers of control of Commission
69.	Power to direct application to renew authorisation.
70.	Imposition of conditions on current authorisation.
71.	Revocation of authorisation.
72.	Reauthorisation.
73.	Criteria for prudent management.
74.	Exercise of powers on information from supervisory authority.
Information
75.	Powers of Commission to obtain information and documents etc.
76.	Confidentiality of certain information obtained by Commission.
77.	Information disclosed to Commission from other sources.
Accounts and audit
78.	Accounting records and systems of business control etc.
Miscellaneous and supplemental
79.	Service of notices.
80.	Meaning of "associate".
81.	Other interpretation of Building Societies Act.
PART IX
SUPPLEMENTAL
82.	Minor and consequential amendments.
83.	Transitional provisions and savings.

SCHEDULES:

	Schedule 1—	Annex to the Second Council Directive.

	Schedule 2—	Requirements as respects European institutions.

	Schedule 3—	Prohibitions and restrictions by the Bank.

	Schedule 4—	Prohibitions by the Board.

	Schedule 5—	Prohibitions and restrictions by the Director.

	Schedule 6—	Requirements as respects UK institutions.

	Schedule 7—	Restrictions by the UK authority.

	Schedule 8—	Amendments of Banking Act.

	Schedule 9—	Amendments of Financial Services Act.

	Schedule 10—	Minor and consequential amendments.

	Schedule 11—	Transitional provisions and savings.

Explanatory Note
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