F1PART 9BRing-fencing

Annotations:
Amendments (Textual)
F1

Pt. 9B inserted (1.3.2014 for the insertion of ss. 142A-142F, 142I, 142W-142Z1 for specified purposes) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 4(1), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2

Ring-fencing rules

142IPowers of Treasury in relation to ring-fencing rules

1

The Treasury may by order require the appropriate regulator, as defined in section 142H(8), to include (or not to include) in ring-fencing rules specified provision relating to—

a

any of the matters mentioned in section 142H(5)(a) to (g), or

b

any other specified matter.

2

The power to make an order under this section is exercisable only if the Treasury consider it necessary or expedient to do so—

a

for any of the group ring-fencing purposes as defined in section 142H(4), or

b

otherwise for securing the independence of ring-fenced bodies from other members of their groups.

3

“Specified” means specified in the order.