Modifications etc. (not altering text)
C1Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2
C2Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2
Textual Amendments
F1Pt. 1 Ch. 4 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 97
(1)This section applies only to information and documents reasonably required in connection with the exercise by the Bank of England of functions conferred by or under—
(a)this Part, or
(b)any other enactment giving effect to the resolution and recovery directive.
(2)The Bank of England may, by notice in writing given to a bank or banking group company, require the bank or banking group company—
(a)to provide specified information or information of a specified description, or
(b)to produce specified documents or documents of a specified description.
(3)The information or documents must be provided or produced—
(a)before the end of such reasonable period as may be specified, and
(b)at such place as may be specified.
(4)An officer who has written authorisation from the Bank of England to do so may require a bank or banking group company without delay—
(a)to provide the officer with specified information or information of a specified description, or
(b)to produce to the officer specified documents or documents of a specified description.
(5)The Bank of England may require any information provided under this section to be provided in such form as it may reasonably require.
(6)The Bank of England may require—
(a)any information provided, whether in a document or otherwise, to be verified in such manner, or
(b)any document produced to be authenticated in such manner,
as it may reasonably require.
(7)The powers conferred by subsections (2) and (4) may also be exercised by the Bank to impose requirements on a person who is connected with a bank.
(8)“Officer” means an officer of the Bank of England, and includes a member of the Bank’s staff or an agent of the Bank.
(9)“Specified” means—
(a)in subsections (2) and (3), specified in the notice, and
(b)in subsection (4), specified in the authorisation.
(10)For the purposes of this section, a person is connected with a bank if that person is or has at any relevant time been—
(a)a member of that bank’s group,
(b)a controller of that bank (within the meaning of section 422 of the Financial Services and Markets Act 2000),
(c)any other member of a partnership of which that bank is a member, or
(d)in relation to that bank, a person mentioned in Part 1 of Schedule 15 to the Financial Services and Markets Act 2000 (reading references in that Part to the authorised person as references to the bank).
(11)In subsection (10)(a) “group” has the meaning given by section 3(2)(b).
(1)This section applies where the Bank of England has required or could require a person to whom subsection (2) applies (“the person concerned”) to provide information or produce documents with respect to any matter (“the matter concerned”) under section 83ZA.
(2)This subsection applies to—
(a)a bank (“B”),
(b)a member of B’s group,
(c)a partnership of which B is a member, or
(d)a person who has at any relevant time been a person falling within paragraph (a), (b) or (c),
who is, or was at the relevant time, carrying on a business.
(3)The Bank of England may either—
(a)by notice in writing given to the person concerned, require that person to provide the Bank with a report on the matter concerned, or
(b)itself appoint a person to provide the Bank with a report on the matter concerned.
(4)When acting under subsection (3)(a), the Bank may require the report to be in such form as may be specified in the notice.
(5)The Bank must give notice of an appointment under subsection (3)(b) to the person concerned.
(6)The person appointed to make a report—
(a)must be a person appearing to the Bank to have the skills necessary to make a report on the matter concerned, and
(b)where the appointment is to be made by the person concerned, must be a person nominated or approved by the Bank.
(7)It is the duty of—
(a)the person concerned, and
(b)any person who is providing (or who has at any time provided) services to the person concerned in relation to the matter concerned,
to give the person appointed to prepare a report all such assistance as the appointed person may reasonably require.
(8)The obligation imposed by subsection (7) is enforceable, on the application of the Bank, by an injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.
(9)The Bank may, in relation to an appointment under subsection (3)(b), require B to pay to the Bank a fee to cover the expenses incurred by the Bank in relation to the appointment.
(10)In this section “group” has the meaning given by section 3(2)(b).]