http://www.legislation.gov.uk/ukpga/2009/1/section/83ZFBanking 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 1Chapter 483ZF1This section applies if the Bank of England appoints one or more competent persons (“investigators“) under section 83ZC or 83ZD to conduct an investigation on its behalf.2The Bank must give written notice of the appointment of an investigator to the person who is the subject of the investigation (“the person under investigation”).3A notice under subsection (2) must—aspecify the provisions under which, and as a result of which, the investigator was appointed, andbstate the reason for the investigator’s appointment.4Nothing prevents the Bank from appointing a person who is a member of its staff as an investigator.5An investigator must make a report of the investigation to the Bank.6The Bank may, by a direction to an investigator, control—athe scope of the investigation,bthe period during which the investigation is to be conducted,cthe conduct of the investigation, anddthe reporting of the investigation.7A direction may, in particular—aconfine the investigation to particular matters;bextend the investigation to additional matters;crequire the investigator to discontinue the investigation or to take only such steps as are specified in the direction;drequire the investigator to make such interim reports as are so specified.8If there is a change in the scope or conduct of the investigation and, in the opinion of the Bank, the person under investigation is likely to be significantly prejudiced by not being made aware of it, that person must be given written notice of the change.9If the appointment is under section 83ZD, subsections (2) and (8) do not apply if the Bank believes that the notice required by the subsection in question would be likely to result in the investigation being frustrated.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. 2Pt. 1 Ch. 4 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 97