Digital Economy Act 2017

Financial Services (Banking Reform) Act 2013 U.K.

35 U.K. The Financial Services (Banking Reform) Act 2013 is amended as follows.

36 U.K. In section 45 (procedure), in subsection (1)(a) omit “inter-bank”.

37 U.K. In section 46 (amendment of designation order), in subsection (2)(a) omit “inter-bank”.

38 U.K. In section 47 (revocation of designation orders), in subsection (3)(a) omit “inter-bank”.

39 U.K. In section 98 (duty of regulators to ensure co-ordinated exercise of functions), in subsection (5)(b) omit “inter-bank”.

40 U.K. In section 110 (interpretation), in subsection (1), in the definition of “recognised inter-bank payment system”—

(a) omit the first “inter-bank”;

(b) for “an inter-bank” substitute “ a ”.

41 U.K. In section 112 (interpretation: infrastructure companies), in subsections (2)(a), (4)(b) and (5), omit “inter-bank”.

42 U.K. In section 113 (interpretation: other expressions), in subsection (1)—

(a) in the definition of “operator” omit “inter-bank”;

(b) in the definition of “recognised inter-bank payment system”—

(i) omit the first “inter-bank”;

(ii) for “an inter-bank” substitute “ a ”;

(c) in the definition of “the relevant system”, in paragraphs (a) and (c), omit “inter-bank”.

43 U.K. In section 115 (objective of FMI administration), in subsection (1) omit “inter-bank”.

44 U.K. In section 120 (power to direct FMI administrator), in subsection (8) omit “inter-bank”.

45 U.K. In section 127 (interpretation of Part 6), in subsection (1), in the definition of “operator” and in the definition of “recognised inter-bank payment system”, omit “inter-bank”.