Search Legislation

Bank of England and Financial Services Act 2016

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As enacted)
 Help about advanced features

Advanced Features

Changes over time for: Cross Heading: Banking Act 2009 (c. 1)

 Help about opening options

Alternative versions:

Changes to legislation:

There are outstanding changes not yet made by the legislation.gov.uk editorial team to Bank of England and Financial Services Act 2016. Any changes that have already been made by the team appear in the content and are referenced with annotations. Help about Changes to Legislation

Close

Changes to Legislation

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.

View outstanding changes

Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

Whole provisions yet to be inserted into this Act (including any effects on those provisions):

Banking Act 2009 (c. 1)U.K.

52U.K.The Banking Act 2009 is amended as follows.

Commencement Information

I1Sch. 2 para. 52 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

53U.K.In section 83ZZ (co-operation)—

(a)at the end of paragraph (a) insert “ , and ”;

(b)omit paragraph (b).

Commencement Information

I2Sch. 2 para. 53 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

54(1)Section 83Z1 (delegation of enforcement functions) is amended as follows.U.K.

(2)In subsection (1)—

(a)for “appropriate regulator” substitute “ FCA ”;

(b)for “that regulator” substitute “ the FCA ”.

(3)Omit subsection (2)(b).

(4)In subsection (3), for “appropriate regulator” substitute “ FCA ”.

Commencement Information

I3Sch. 2 para. 54 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

55U.K.In section 89L(2)(c)(i) (application of section 348 of Financial Services and Markets Act 2000) omit inserted paragraph (ca).

Commencement Information

I4Sch. 2 para. 55 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

56(1)Section 96 (ground for applying for bank insolvency order) is amended as follows.U.K.

(2)In subsection (2)(a) omit “the PRA has informed the Bank of England that”.

(3)In subsection (3)(a), for the words from “has”, in the first place it occurs, to the end substitute “ is satisfied that Condition 2 in section 7 is met, and ”.

Commencement Information

I5Sch. 2 para. 56 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

57(1)Section 108 (removal of bank liquidator by court) is amended as follows.U.K.

(2)In subsection (2) omit “the Bank of England and”.

(3)In subsection (3) omit “the PRA and”.

Commencement Information

I6Sch. 2 para. 57 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

58U.K.In section 117(2)(a) (consents required for making of bank insolvency order) omit “the Bank of England and”.

Commencement Information

I7Sch. 2 para. 58 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

59(1)In section 129A (modifications for banks not regulated by PRA), the table in subsection (2) is amended as follows.U.K.

(2)In the entry for section 96, in column 2, for paragraphs (a) and (b) substitute—

(a)Read subsection (2)(a) as “the FCA has informed the Bank of England that the FCA is satisfied that Condition 1 in section 7 is met,”.

(b)Treat the references to the PRA in subsection (3) as references to the FCA.

(ba)Read subsection (3)(a) as “the Bank of England—(i) has informed the FCA that it is satisfied that Condition 2 in section 7 is met, and (ii) has consented to the application,”.

(3)In the entry for section 108, in column 2—

(a)for paragraph (b) substitute—

(b)Treat the reference in subsection (2) to the FCA as a reference to the Bank of England.;

(b)omit paragraph (c).

(4)In the entry for section 117, in column 2, for paragraph (b) substitute—

(b)Treat the reference in subsection (2) to the FCA as a reference to the Bank of England.

Commencement Information

I8Sch. 2 para. 59 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

60U.K.Omit section 204(4)(ba) (Bank may disclose information to PRA).

Commencement Information

I9Sch. 2 para. 60 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

61U.K.Omit section 246(2)(b) (Bank may disclose information to PRA).

Commencement Information

I10Sch. 2 para. 61 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

62U.K.Before section 257 insert—

256BBank of England” and “Prudential Regulation Authority”

(1)In this Act references to the Bank of England do not include the Bank acting in its capacity as the Prudential Regulation Authority.

(2)For the interpretation of references to the Prudential Regulation Authority, see section 2A of the Financial Services and Markets Act 2000.

Commencement Information

I11Sch. 2 para. 62 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

63U.K.In section 261 (index of defined terms), at the appropriate places in the table insert—

Bank of England256B
Prudential Regulation Authority256B

Commencement Information

I12Sch. 2 para. 63 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

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.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

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.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources