SCHEDULES

SCHEDULE 11Central counterparties

PART 10Consequential etc provision

I1I2163Financial Services Act 2012

1

The Financial Services Act 2012 is amended as follows.

2

In section 57A (duty of Bank to provide information required by Treasury)—

a

in subsection (2) after “credit union” insert “, recognised central counterparty”;

b

in subsection (5) after “credit union” insert “, recognised central counterparty”;

c

in subsection (5)(b), after “2009” insert “or in Schedule 11 to the Financial Services and Markets Act 2023”;

d

in subsection (7), after the definition of “public funds” insert—

  • “recognised central counterparty” has the meaning given by section 285 of FSMA 2000,

3

In section 58 (duty of Bank to notify Treasury of possible need for public funds)—

a

in subsection (4) after “2009” insert “or under Schedule 11 to the Financial Services and Markets Act 2023”;

b

in subsection (5)—

i

in the opening words, after “Scheme” insert “or any scheme established under paragraph 87 of Schedule 11 to the Financial Services and Markets Act 2023”;

ii

in the closing words, after “Scheme” insert “or any scheme established under paragraph 87 of Schedule 11 to the Financial Services and Markets Act 2023”.

4

In section 61 (Treasury power of direction), in subsection (2)(b)—

a

after “2009” insert “or paragraph 1(4) of Schedule 11 to the Financial Services and Markets Act 2023”;

b

for “that Act” substitute “the Banking Act 2009”.

5

Omit section 102.