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Digital Economy Act 2017

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This is the original version (as it was originally enacted).

PART 2Consequential amendments

Financial Services Act 2012

31The Financial Services Act 2012 is amended as follows.

32(1)Section 68 (cases in which Treasury may arrange independent enquiries) is amended as follows.

(2)In subsection (3), in paragraphs (a) and (b)(ii), omit “inter-bank”.

(3)In subsection (5), in the definition of “recognised inter-bank payment system”—

(a)omit the first “inter-bank”;

(b)for “an inter-bank” substitute “a”.

33In section 85 (relevant functions in relation to complaints scheme), in subsection (3)(a) omit “inter-bank”.

34In section 110 (payment to Treasury of penalties received by Bank of England), in subsection (5)(d) omit “inter-bank”.

Financial Services (Banking Reform) Act 2013

35The Financial Services (Banking Reform) Act 2013 is amended as follows.

36In section 45 (procedure), in subsection (1)(a) omit “inter-bank”.

37In section 46 (amendment of designation order), in subsection (2)(a) omit “inter-bank”.

38In section 47 (revocation of designation orders), in subsection (3)(a) omit “inter-bank”.

39In section 98 (duty of regulators to ensure co-ordinated exercise of functions), in subsection (5)(b) omit “inter-bank”.

40In section 110 (interpretation), in subsection (1), in the definition of “recognised inter-bank payment system”—

(a)omit the first “inter-bank”;

(b)for “an inter-bank” substitute “a”.

41In section 112 (interpretation: infrastructure companies), in subsections (2)(a), (4)(b) and (5), omit “inter-bank”.

42In section 113 (interpretation: other expressions), in subsection (1)—

(a)in the definition of “operator” omit “inter-bank”;

(b)in the definition of “recognised inter-bank payment system”—

(i)omit the first “inter-bank”;

(ii)for “an inter-bank” substitute “a”;

(c)in the definition of “the relevant system”, in paragraphs (a) and (c), omit “inter-bank”.

43In section 115 (objective of FMI administration), in subsection (1) omit “inter-bank”.

44In section 120 (power to direct FMI administrator), in subsection (8) omit “inter-bank”.

45In section 127 (interpretation of Part 6), in subsection (1), in the definition of “operator” and in the definition of “recognised inter-bank payment system”, omit “inter-bank”.

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