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					<dc:identifier>http://www.legislation.gov.uk/ukpga/2012/21/section/2/2014-04-01</dc:identifier><dc:title>Financial Services Act 2012</dc:title><dc:description>An Act to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial services and markets; to make provision about the exercise of certain statutory functions relating to building societies, friendly societies and other mutual societies; to amend section 785 of the Companies Act 2006; to make provision enabling the Director of Savings to provide services to other public bodies; and for connected purposes.</dc:description><dc:type>text</dc:type><dc:format>text/xml</dc:format><dc:language>en</dc:language><dc:publisher>Statute Law Database</dc:publisher><dc:modified>2026-04-20</dc:modified><dc:contributor>Expert Participation</dc:contributor><dct:valid>2014-04-01</dct:valid>
					
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					<ukm:PrimaryMetadata><ukm:DocumentClassification><ukm:DocumentCategory Value="primary"/><ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/><ukm:DocumentStatus Value="revised"/></ukm:DocumentClassification><ukm:Year Value="2012"/><ukm:Number Value="21"/><ukm:EnactmentDate Date="2012-12-19"/><ukm:ISBN Value="9780105421122"/><ukm:UnappliedEffects><ukm:UnappliedEffect Comments="temp. until 15.5.2039" AffectingYear="2014" Modified="2021-08-16T13:28:52Z" URI="http://www.legislation.gov.uk/id/effect/key-ddafed77c16b158e92911c3dc2d47b9d" Type="power to apply conferred (temp.)" AffectingNumber="21" AffectingProvisions="s. 79(4)" RequiresApplied="true" AffectingURI="http://www.legislation.gov.uk/id/ukpga/2014/21" AffectedNumber="21" AffectedClass="UnitedKingdomPublicGeneralAct" Row="5" AffectingEffectsExtent="S+A+M+E+A+S+A+F+F+E+C+T+E+D" AffectedYear="2012" AffectedProvisions="Act" AffectingClass="UnitedKingdomPublicGeneralAct" EffectId="key-ddafed77c16b158e92911c3dc2d47b9d" AffectedURI="http://www.legislation.gov.uk/id/ukpga/2012/21"><ukm:AffectedTitle>Financial Services Act 2012</ukm:AffectedTitle><ukm:AffectedProvisions>Act</ukm:AffectedProvisions><ukm:AffectingTitle>Water Act 2014</ukm:AffectingTitle><ukm:AffectingProvisions><ukm:Section Ref="section-79-4" URI="http://www.legislation.gov.uk/id/ukpga/2014/21/section/79/4">s. 79(4)</ukm:Section></ukm:AffectingProvisions><ukm:CommencementAuthority><ukm:Section Ref="section-94-3" URI="http://www.legislation.gov.uk/id/ukpga/2014/21/section/94/3">s. 94(3)</ukm:Section></ukm:CommencementAuthority><ukm:InForceDates><ukm:InForce Applied="false" Prospective="true" Qualification="with effect in accordance with" OtherQualification="s. 83(1)"/></ukm:InForceDates></ukm:UnappliedEffect><ukm:UnappliedEffect AffectingYear="2014" AffectingURI="http://www.legislation.gov.uk/id/ukpga/2014/21" Comments="temp. until 15.5.2039" AffectedNumber="21" RequiresApplied="true" EffectId="key-ed4909ff0e3ce4d705d319ad81f3cf85" AffectingNumber="21" Row="6" AffectedURI="http://www.legislation.gov.uk/id/ukpga/2012/21" AffectingClass="UnitedKingdomPublicGeneralAct" Type="power to apply conferred (temp.)" AffectingEffectsExtent="S+A+M+E+A+S+A+F+F+E+C+T+E+D" Modified="2021-08-16T13:28:52Z" URI="http://www.legislation.gov.uk/id/effect/key-ed4909ff0e3ce4d705d319ad81f3cf85" AffectedYear="2012" AffectingProvisions="s. 81(10)" AffectedClass="UnitedKingdomPublicGeneralAct" AffectedProvisions="Act"><ukm:AffectedTitle>Financial Services Act 2012</ukm:AffectedTitle><ukm:AffectedProvisions>Act</ukm:AffectedProvisions><ukm:AffectingTitle>Water Act 2014</ukm:AffectingTitle><ukm:AffectingProvisions><ukm:Section Ref="section-81-10" URI="http://www.legislation.gov.uk/id/ukpga/2014/21/section/81/10">s. 81(10)</ukm:Section></ukm:AffectingProvisions><ukm:CommencementAuthority><ukm:Section Ref="section-94-3" URI="http://www.legislation.gov.uk/id/ukpga/2014/21/section/94/3">s. 94(3)</ukm:Section></ukm:CommencementAuthority><ukm:InForceDates><ukm:InForce Applied="false" Prospective="true" Qualification="with effect in accordance with" OtherQualification="s. 83(1)"/></ukm:InForceDates></ukm:UnappliedEffect></ukm:UnappliedEffects></ukm:PrimaryMetadata>
					

                    
									<ukm:Notes><ukm:Note IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/2/notes" DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/2/notes"/><ukm:Alternatives><ukm:Alternative URI="http://www.legislation.gov.uk/ukpga/2012/21/pdfs/ukpgaen_20120021_en.pdf" Date="2013-01-17" Title="Explanatory Note" Size="1175217"/></ukm:Alternatives>       
								</ukm:Notes> 
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				</ukm:Metadata><Primary><Body DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/body/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/body" NumberOfProvisions="386" RestrictStartDate="2014-04-01"><Part DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/part/1/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/part/1" NumberOfProvisions="38" RestrictEndDate="2016-07-06" id="part-1" RestrictStartDate="2013-04-01"><Number>
          <Strong>PART 1</Strong>
        </Number><Title>Bank of England</Title><P1group RestrictEndDate="2017-03-01" RestrictStartDate="2013-04-01"><Title>The Bank's financial stability objective</Title><P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/2/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/2" id="section-2"><Pnumber PuncAfter=""><CommentaryRef Ref="key-7541ddb3e2441a876693a94f64b608dc"/>2</Pnumber><P1para><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/2/1/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/2/1" id="section-2-1"><Pnumber>1</Pnumber><P2para><Text>Section 2A of the Bank of England Act 1998 (Financial Stability Objective) is amended as follows.</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/2/2/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/2/2" id="section-2-2"><Pnumber>2</Pnumber><P2para><Text>In subsection (1)—</Text><P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/2/2/a/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/2/2/a" id="section-2-2-a"><Pnumber>a</Pnumber><P3para><Text>for  “contribute to protecting and enhancing” substitute <InlineAmendment>“
                      protect and enhance
                    ”</InlineAmendment>, and</Text></P3para></P3><P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/2/2/b/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/2/2/b" id="section-2-2-b"><Pnumber>b</Pnumber><P3para><Text>for  “systems” substitute <InlineAmendment>“
                      system
                    ”</InlineAmendment>.</Text></P3para></P3></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/2/3/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/2/3" id="section-2-3"><Pnumber>3</Pnumber><P2para><Text>In subsection (2), for  “and the Financial Services Authority)” substitute <InlineAmendment>“
                  , the Financial Conduct Authority and the Prudential Regulation Authority)
                ”</InlineAmendment>.</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/2/4/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/2/4" id="section-2-4"><Pnumber>4</Pnumber><P2para><Text>Omit subsection (3) (which is superseded by the amendments made by section 4 of this Act).</Text></P2para></P2></P1para></P1></P1group></Part></Body></Primary><Commentaries><Commentary id="key-7541ddb3e2441a876693a94f64b608dc" Type="I"><Para><Text><CitationSubRef SectionRef="section-2" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/2" id="c5ezcq1z2-00065">S. 2</CitationSubRef> in force at 1.4.2013  by <Citation URI="http://www.legislation.gov.uk/id/uksi/2013/423" Class="UnitedKingdomStatutoryInstrument" Year="2013" Number="423" Title="The Financial Services Act 2012 (Commencement No. 2) Order 2013" id="c5ezcq1z2-00066">S.I. 2013/423</Citation>, <CitationSubRef SectionRef="article-3" URI="http://www.legislation.gov.uk/id/uksi/2013/423/article/3" CitationRef="c5ezcq1z2-00066" id="c5ezcq1z2-00067">art. 3</CitationSubRef>, <CitationSubRef SectionRef="schedule" URI="http://www.legislation.gov.uk/id/uksi/2013/423/schedule" CitationRef="c5ezcq1z2-00066" Operative="true" id="c5ezcq1z2-00068">Sch.</CitationSubRef></Text></Para></Commentary></Commentaries></Legislation>