Explanatory Notes

Banking Act 2009

2009 CHAPTER 1

12 February 2009

Commentary on Sections

Part 7: Miscellaneous

Investment Banks

Section 235: Regulations: procedure

521.Section 235 establishes the procedure under which regulations may be made and provides that both the power to make provision about the definition of “investment bank” and the regulation-making power should be subject to the affirmative procedure. The Section provides that the Treasury should consult before making regulations and the power to make regulations will cease after two years if not used.