Part IIITransfer of supervisory functions of the Bank to the Financial Services Authority

Transfer of functions to the Authority

21Transfer

The following functions of the Bank are hereby transferred to the Authority—

(a)

its functions under—

(i)

the M1Banking Act 1987,

(ii)

the M2Banking Coordination (Second Council Directive) Regulations 1992, and

(iii)

section 101(4) of the M3Building Societies Act 1986,

(banking supervision functions),

(b)

its functions under—

(i)

section 43 of the M4Financial Services Act 1986, and

(ii)

the M5Investment Services Regulations 1995,

(functions relating to the listing of money market institutions), and

(c)

its functions under section 171 of the M6Companies Act 1989 (functions relating to the listing of persons providing settlement arrangements).