- Latest available (Revised)
- Original (As enacted)
There are outstanding changes not yet made by the legislation.gov.uk editorial team to Financial Services Act 2010. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
This section lists the commencement orders yet to be applied to the whole Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.
In Part 5 of the Banking Act 2009 (inter-bank payment systems), after section 206 insert—
(1)The Treasury may by order make provision applying any provision of this Part to persons who are service providers in relation to a recognised inter-bank payment system.
(2)A person is a service provider in relation to a recognised inter-bank payment system if—
(a)the person provides services that form part of the arrangements constituting the system, and
(b)the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the system.
(3)Telecommunication or information technology services are examples of the kind of services that may fall within subsection (2)(a).
(4)Before specifying persons under subsection (2)(b), the Treasury must—
(a)consult the Bank of England and the FSA,
(b)notify the operator of the system and the persons whom the Treasury proposes to specify, and
(c)consider any representations made.
(5)The Treasury may not specify the Bank of England under subsection (2)(b).
(6)Before making an order under subsection (1), the Treasury must consult—
(a)the Bank of England,
(b)the FSA, and
(c)such other persons as the Treasury consider appropriate.
(7)An order under subsection (1)—
(a)may modify any provision of this Part in its application to persons who are service providers in relation to a recognised inter-bank payment system;
(b)may (but need not) take the form of textual amendment.
(8)An order under subsection (1)—
(a)is to be made by statutory instrument, and
(b)may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.”
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: 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.
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.
Click 'View More' or select 'More Resources' tab for additional information including: