http://www.legislation.gov.uk/ukpga/2009/1/section/70DBanking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2026-02-20Expert Participation2026-01-19
Banking Act 2009s. 4(8A) (8B)Financial Services Act 2012s. 96(3)Sch. 20s. 122(3)Banking Act 2009s. 8(2)(d) and wordFinancial Services Act 2012s. 96(4)(b)Sch. 20s. 122(3)
Part 1Special Resolution RegimeChapter 3 <Addition ChangeId="key-66128f0e1311ca44b09df6cb3e25b25a-1582893808011" CommentaryRef="key-66128f0e1311ca44b09df6cb3e25b25a"> Special resolution action</Addition> <Emphasis>Incidental functions</Emphasis><Addition ChangeId="key-13365eb4956bbeb16c14fa33a9936bc5-1582833433545" CommentaryRef="key-13365eb4956bbeb16c14fa33a9936bc5">Suspension: general provisions</Addition>70D1For the purposes of sections 70A to 70C—“business day” means any day other than a Saturday, a Sunday, or a day which is a bank holiday under the Banking and Financial Dealings Act 1971 in any part of the United Kingdom;“excluded person” means—a person who has been declared to be, or who is an operator of, a designated system under regulation 4 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999,...a recognised central counterparty ... or third country central counterparty, ora central bank.2For the purposes of subsection (1) ..., “recognised central counterparty” and “third country central counterparty” have the meaning given in section 285 of the Financial Services and Markets Act 2000.Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2Pt. 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. 2Ss. 70A-70D inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 77Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7Words in s. 70D(1) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 27(2)(a); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 70D(1) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 27(2)(b); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 70D(2) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 27(3); 2020 c. 1, Sch. 5 para. 1(1)