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SCHEDULES

SCHEDULE 17E+W+S+N.I.Amendments of Banking Act 2009 related to Part 2 of this Act

PART 2 E+W+S+N.I.Amendments of Part 2 of the Act

45After section 129 insert—E+W+S+N.I.

129ABanks not regulated by PRA

(1)In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.

(2)In this section—

TABLE OF MODIFICATIONS
ProvisionModification
Section 95Treat the reference to the PRA in subsection (1) as a reference to the FCA.
Section 96

(a)Treat the references to the PRA in subsections (2) and (3) as references to the FCA.

(b)If the bank has as a member of its immediate group a PRA-authorised person the Bank of England must consult the PRA before applying for a bank insolvency order.

(c)The FCA must consult the PRA before applying for a bank insolvency order.

Section 97Treat the reference to the PRA in subsection (1) as a reference to the FCA.
Section 98Treat the references to the PRA in subsection (2) as references to the FCA.
Section 100

(a)Treat the reference to two individuals in subsection (2)(a) as a reference to one individual.

(b)Ignore subsection (2)(b).

(c)Ignore the reference to the PRA in subsection (6)(c).

Section 101Ignore the reference to the PRA in subsection (7).
Section 103In the Table, in the entries relating to sections 147 and 241 of the Insolvency Act 1986, treat the reference to the PRA as a reference to the FCA.
Section 108

(a)Treat the reference to the PRA in subsections (1) and (2) as a reference to the FCA.

(b)Ignore the duty to consult the FCA in subsection (2).

(c)Ignore the reference to the PRA in subsection (3).

Section 109Ignore the reference to the PRA in subsection (4).
Section 113Ignore subsection (2)(b)(i).
Section 115Ignore subsection (2)(b)(i).
Section 117

(a)Treat the reference to the PRA in subsection (2) as a reference to the FCA.

(b)Ignore the duty to obtain the consent of the FCA in subsection (2)(a).

Section 120

(a)Treat the references to the PRA in subsections (5), (7) and (10) as references to the FCA.

(b)Ignore the duty to inform the FCA in subsection (10)(a).

Annotations:

Commencement Information

I1Sch. 17 para. 45 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.