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					<dc:identifier>http://www.legislation.gov.uk/ukpga/2012/21/section/63/2014-04-01</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>2025-01-20</dc:modified><dc:contributor>Expert Participation</dc:contributor><dct:valid>2014-04-01</dct:valid>
					
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									<ukm:Notes><ukm:Note IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/63/notes" DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/63/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>       
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          <Strong>PART 4</Strong>
        </Number><Title>Collaboration between Treasury and Bank of England, FCA or PRA</Title><P1group RestrictStartDate="2013-04-01"><Title>Duty to lay direction <Abbreviation Expansion="Et cetera" xml:lang="la">etc</Abbreviation> before Parliament</Title><P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/63/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/63" id="section-63"><Pnumber PuncAfter=""><CommentaryRef Ref="key-fbb8cc5f7d5fdace9a4241ed47e36b12"/>63</Pnumber><P1para><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/63/1/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/63/1" id="section-63-1"><Pnumber>1</Pnumber><P2para><Text>As soon as practicable after giving or revoking a direction under section 61 or receiving a report under section 62(3), the Treasury must lay before Parliament a copy of the direction, notice of revocation or report.</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/63/2/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/63/2" id="section-63-2"><Pnumber>2</Pnumber><P2para><Text>But subsection (1) does not apply in a case where the Treasury consider that the publication of the direction, notice of revocation or report would be against the public interest.</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2012/21/section/63/3/2014-04-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/63/3" id="section-63-3"><Pnumber>3</Pnumber><P2para><Text>Where the Treasury decide that publication of a direction, notice of revocation or report would be against the public interest, they must from time to time review that decision and if they subsequently decide that publication is no longer against the public interest they must comply with subsection (1).</Text></P2para></P2></P1para></P1></P1group></Part></Body></Primary><Commentaries><Commentary id="key-fbb8cc5f7d5fdace9a4241ed47e36b12" Type="I"><Para><Text><CitationSubRef SectionRef="section-63" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/63" id="c5ezcq1z2-00699">S. 63</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="c5ezcq1z2-00700">S.I. 2013/423</Citation>, <CitationSubRef SectionRef="article-3" URI="http://www.legislation.gov.uk/id/uksi/2013/423/article/3" CitationRef="c5ezcq1z2-00700" id="c5ezcq1z2-00701">art. 3</CitationSubRef>, <CitationSubRef SectionRef="schedule" URI="http://www.legislation.gov.uk/id/uksi/2013/423/schedule" CitationRef="c5ezcq1z2-00700" Operative="true" id="c5ezcq1z2-00702">Sch.</CitationSubRef></Text></Para></Commentary></Commentaries></Legislation>