Financial Services Act 2012 (c. 21)

SCHEDULES

SCHEDULE 17 Amendments of Banking Act 2009 related to Part 2 of this Act

PART 1 Amendments of Part 1 of the Act

7 (1) Section 6 (code of practice: procedure) is amended as follows.

(2) Omit subsections (1) and (2).

(3) For subsection (4) substitute—

“(4) Before re-issuing the code of practice the Treasury must consult—

(a) the PRA,

(b) the FCA,

(c) the Bank of England, and

(d) the scheme manager of the Financial Services Compensation Scheme (established under Part 15 of the Financial Services and Markets Act 2000).

(5) As soon as is reasonably practicable after re-issuing the code of practice the Treasury shall lay a copy before Parliament.”