SCHEDULES

[F1 SCHEDULE 17A U.K. Further provision in relation to exercise of Part 18 functions by Bank of England

Textual Amendments

F1 Sch. 17A inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 29(2), 122(3), Sch. 7 (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c), Sch. Pts. 2, 3; S.I. 2013/423, art. 3, Sch.

Part 2 U.K.Application of provisions of this Act in relation to Bank of England

Injunctions and restitution U.K.

28 (1) The power conferred by section 384(5) (power of FCA to require restitution order) is exercisable by the Bank. U.K.

(2) That power is exercisable if the Bank is satisfied that a recognised clearing house [F2 , a recognised CSD or an EEA CSD] has contravened a relevant requirement, or been knowingly concerned in the contravention of a relevant requirement, and—

(a) that profits have accrued to the recognised clearing house [F3 , the recognised CSD or the EEA CSD] as a result of the contravention; or

(b) that one or more persons have suffered loss or been otherwise adversely affected as a result of the contravention.

(3) For the purposes of that power, “relevant requirement” is to be read in accordance with paragraph 26(2) of this Schedule [F4 (subject to sub-paragraph (3A))].

[F5 (3A) The power conferred by section 384(5) is not exercisable by the Bank in respect of the contravention of a requirement imposed by or under Article 4 or 15 of the SFT regulation.]

(4) Where this paragraph applies, section 384(5) and (6) are to have effect as if—

(a) any reference to the person concerned were a reference to the recognised clearing house [F6 , the recognised CSD or the EEA CSD]; and

(b) any reference to subsection (1) were a reference to sub-paragraph (2) of this paragraph.]

Textual Amendments

F2 Words in Sch. 17A para. 28(2) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(39)(q)(i) (with regs. 7(4), 9(1))

F3 Words in Sch. 17A para. 28(2)(a) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(39)(q)(ii) (with regs. 7(4), 9(1))

F4 Words in Sch. 17A para. 28(3) inserted (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), reg. 1(2), Sch. 1 para. 1(6)(c)(i)

F5 Sch. 17A para. 28(3A) inserted (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), reg. 1(2), Sch. 1 para. 1(6)(c)(ii)

F6 Words in Sch. 17A para. 28(4)(a) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(39)(q)(iii) (with regs. 7(4), 9(1))