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Financial Services Act 2012

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Financial Services Act 2012, PART 4 is up to date with all changes known to be in force on or before 17 December 2017. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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This section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this 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.

PART 4 E+W+S+N.I.Amendments of Parts 4 to 6 of the Act

52Parts 4 to 6 of the Banking Act 2009 are amended as follows.E+W+S+N.I.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I1Sch. 17 para. 52 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

53(1)Section 183 (interpretation of Part 5) is amended as follows.E+W+S+N.I.

(2)In paragraph (c)—

(a)for “section 3(2)” substitute “ section 1I ”, and

(b)omit “(market confidence)”.

(3)For paragraph (e), and the “and” before it, substitute—

(e)the FCA” means the Financial Conduct Authority,

(f)Part 4A permission” has the meaning given by section 55A of the Financial Services and Markets Act 2000,

(g)the PRA” means the Prudential Regulation Authority,

(h)PRA-regulated activity” has the meaning given by section 22A of the Financial Services and Markets Act 2000, and

(i)recognised investment exchange” has the meaning given by section 285 of that Act.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I2Sch. 17 para. 53 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

54In section 223 (termination of right to issue), in subsections (5) and (6), for “Part 4” substitute “ Part 4A ”.E+W+S+N.I.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I3Sch. 17 para. 54 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

55(1)Section 232 (definition) is amended as follows.E+W+S+N.I.

(2)In subsections (2) and (6)(a), for “Part 4” substitute “ Part 4A ”.

(3)In subsection (5B), in the definition of “rules”, for “section 139(1)” substitute “ section 137B(1) ”.

(4)After subsection (6) insert—

(7)The Treasury may by order amend the definition of “investment activity” in subsection (5B), including by defining that term by reference to rules or guidance made by the PRA or the FCA under the Financial Services and Markets Act 2000.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I4Sch. 17 para. 55 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

56In section 234 (regulations: details), for subsection (8)(b) substitute—E+W+S+N.I.

(b)the Prudential Regulation Authority,

(ba)the Financial Conduct Authority,.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I5Sch. 17 para. 56 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

57In section 235 (regulations: procedure), at the end insert—E+W+S+N.I.

(6)An order under section 232(7)—

(a)is to be made by statutory instrument, and

(b)is subject to annulment in pursuance of a resolution of either House of Parliament.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I6Sch. 17 para. 57 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

58In section 246 (information), in subsection (2)—E+W+S+N.I.

(a)for paragraph (b) substitute—

(b)the Prudential Regulation Authority;

(ba)the Financial Conduct Authority;, and

(b)in paragraph (d), for “or the Financial Services Authority” substitute, “the Prudential Regulation Authority or the Financial Conduct Authority”.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I7Sch. 17 para. 58 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

59(1)Section 249 (functions) is amended as follows.E+W+S+N.I.

(2)In subsection (1)—

(a)for “Financial Services Authority” substitute “ Prudential Regulation Authority or the Financial Conduct Authority ”, and

(b)for “the Authority” substitute “ that authority ”.

(3)In subsection (2), for “Financial Services Authority” substitute “ Prudential Regulation Authority or the Financial Conduct Authority ”.

(4)Omit subsection (3).

Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I8Sch. 17 para. 59 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

60In section 250 (information), for “Financial Services Authority” substitute “ Prudential Regulation Authority. ”E+W+S+N.I.

Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I9Sch. 17 para. 60 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

61(1)Section 259 (statutory instruments) is amended as follows.E+W+S+N.I.

(2)In the entry in the Table relating to section 232, for “232” substitute “ 232(6) ”.

(3)After that entry insert—

232(7)Investment banks: definition of investment activityNegative resolution.

(4)In the entry in the Table relating to section 249, for “FSA—” substitute “ PRA or FCA— ”.

Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I10Sch. 17 para. 61 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

62In the Table in section 261 (index of defined terms)—E+W+S+N.I.

(a)after the entry relating to “enactment” insert—

FCA3, 93, 166 & 183

(b)omit the entry relating to the FSA, and

(c)after the entry relating to “partial property transfer” insert—

PRA3, 93, 166 & 183.
Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I11Sch. 17 para. 62 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.

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