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The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) (England and Wales) Order 2018

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Statutory Instruments

2018 No. 848 (C. 65)

Financial Services And Markets

The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) (England and Wales) Order 2018

Made

12th July 2018

The Treasury make the following Order in exercise of the power conferred by section 148(5) of the Financial Services (Banking Reform) Act 2013(1).

Citation and interpretation

1.—(1) This Order may be cited as the Financial Services (Banking Reform) Act 2013 (Commencement No. 1) (England and Wales) Order 2018.

(2) In this Order “the Act” means the Financial Services (Banking Reform) Act 2013.

Appointed day for the coming into force of section 112 and other provisions of Part 6, so far as not already in force

2.  So far as they extend to England and Wales, the following provisions of the Act come into force on 13th July 2018—

(a)section 112 of the Act for all purposes;

(b)section 121(1) and (3) of the Act, so far is that section is not already in force(2); and

(c)all other provisions of Part 6 of the Act (special administration for operators of certain infrastructure systems) for all purposes.

Andrew Stephenson

Paul Maynard

Two of the Lords Commissioners of Her Majesty’s Treasury

12th July 2018

EXPLANATORY NOTE

(This note is not part of the Order)

This Order commences section 112 of the Act for all purposes, section 121 of the Act, so far as not already in force, and all other provisions of Part 6 of the Financial Services (Banking Reform) Act 2013 (c. 33) (“the Act”) on 13th July 2018, but only in England and Wales.

Part 6 of and Schedules 6 and 7 to the Act make provision for the special administration of infrastructure companies. An infrastructure company is a company which is—

  • the operator of a recognised payment system (as defined in section 113(1) of the Act), other than a recognised central counterparty (as defined by section 285 of the Financial Services and Markets Act 2000 (c. 8));

  • a recognised CSD operating a securities settlement system (this definition of an infrastructure company was inserted by the Central Securities Depositaries Regulations 2017 (S.I 2017/1064) and is subject to the saving provision set out in regulation 7(3)(b) of S.I 2017/1064); or

  • a company designated by the Treasury by order in certain circumstances.

An impact assessment was prepared for Part 6 of the Act and is available on HM Treasury’s website (www.gov.uk/treasury) or from HM Treasury, 1 Horse Guards Road, London SW1A 2HQ. This Order will have no separate impact on the costs of business and the voluntary sector, and for that reason no further impact assessment has been produced.

NOTE AS TO EARLIER COMMENCEMENT ORDERS

(This note is not part of the Order)

The following provisions of the Act have been brought into force by commencement orders made before the date of this Order:

ProvisionDate of CommencementS.I. No.
Section 4 (partially)1st March 20142014/377
Section 4 (for the purpose of inserting section 142H of the Financial Services and Markets Act 2000)21st April 20162016/512
Section 61st March 20142014/377
Section 1331st December 20142014/3160
Sections 14 and 151st March 20142014/377
Section 161st April 20142014/377
Section 17 (partially)1st March 20142014/377
Section 17 (so far as not already in force)31st December 20142014/3160
Section 18 (partially)25th July 20142014/1819
Section 18 (so far as not already in force)7th March 20162015/490
Section 1925th July 20142014/1819
Section 20 (partially)25th July 20142014/1819
Section 20 (so far as not already in force)7th March 20162015/490
Sections 21 to 267th March 20162015/490
Sections 27 and 2825th July 20142014/1819
Section 29 (partially)25th July 20142014/1819
Section 29 (for the purpose of inserting section 63F of the Financial Services and Markets Act 2000)7th March 20162015/490
Section 29 (so far as not already in force)7th March 20172015/490
Section 30 (partially)25th July 20142014/1819
Section 30 (partially)7th March 20162015/490
Section 31 (partially)25th July 20142014/1819
Section 31 (so far as not already in force)7th March 20162015/490
Section 32 (partially)7th March 20162015/490
Section 32 (so far as not already in force)10th May 20162016/568
Section 3325th July 20142014/1819
Section 347th March 20162015/490
Section 35 (partially)25th July 20142014/1819
Section 35 (so far as not already in force)7th March 20162015/490
Sections 36 to 387th March 20162015/490
Sections 39 to 581st March 20142014/377
Sections 68 to 1101st March 20142014/377
Section 591st April 20142014/823
Section 60(1), (2), (3) and (7)1st April 20142014/823
Section 60 (so far as not already in force)1st April 20152014/458
Section 61 (partially)1st November 20142014/458
Section 61 (so far as not already in force)1st April 20152014/458
Section 621st April 20152014/458
Sections 63 to 661st April 20142014/823
Section 67(2) (partially)1st November 20142014/458
Section 67(3), (4) and (5)1st April 20142014/823
Section 67 (so far as not already in force)1st April 20152014/458
Section 121(1) (partially)1st March 20142014/377
Section 121(3) (partially)1st March 20142014/377
Section 129 (partially)1st November 20142014/458
Section 129 (so far as not already in force)1st April 20152014/458
Section 1301st March 20142014/377
Section 1321st March 20142014/377
Section 133 (so far as it inserts section 192JA of the Financial Services and Markets Act 2000)21st April 20162016/512
Section 133(1) (so far as it inserts section 192JB of the Financial Services and Markets Act 2000)31st December 20142014/3160
Section 133(2)(a)31st December 20142014/3160
Section 1341st March 20142014/377
Section 1351st March 20142014/377
Section 1361st March 20142014/377
Section 1371st March 20142014/377
Section 13921st March 20142014/772
Section 140(1) to (3)21st March 20142014/772
Section 140(4) to (6)21st March 20142014/785
Section 141 (partially)1st March 20142014/377
Section 141 (partially)1st April 20142014/377
Schedule 11st March 20142014/377
Schedule 2, paragraph 4 (so far as it inserts section 48P of the Banking Act 2009)1st March 20142014/377
Schedule 2, paragraph 6(8) (so far as it inserts sections 60A and 60B of the Banking Act 2009)1st March 20142014/377
Schedule 2 (so far as not already in force)31st December 20142014/3160
Schedule 3, paragraph 2 (partially)25th July 20142014/1819
Schedule 3, paragraphs 7, 8, 9, 16(b)(i), 17(b)(i), 19(2)(b)(i) and 19(3)(b)(i)25th July 20142014/1819
Schedule 3 (so far as not already in force)7th March 20162015/490
Schedules 4 and 51st March 20142014/377
Schedule 6 (partially)1st March 20142014/377
Schedule 8, paragraphs 3 and 9 (both partially)1st November 20142014/458
Schedule 8, paragraphs 4, 5 and 71st November 20142014/458
Schedule 8 (so far as not already in force)1st April 20152014/458
Schedule 9 (paragraph 4)26th March 20152015/428
Schedule 10, paragraphs 1, 2 and 4 to 91st March 20142014/377
Schedule 10, paragraph 31st April 20142014/377
Schedule 10, paragraph 10 (partially)1st March 20142014/377
Schedule 10, paragraph 10 (so far as not already in force)1st June 20142014/377
(2)

Section 121(1) and (3) was brought into force for limited purposes on 1st March 2014 by the Financial Services (Banking Reform) Act 2013 (Commencement No. 1) Order 2014 (S.I. 2014/377), article 2(1)(b) and the Schedule, Part 2.

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