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—
(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 England | 256B” |
| “Prudential Regulation Authority | 256B” |
Commencement Information
I12Sch. 2 para. 63 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)