Statutory Instruments
Financial Services And Markets
Made
9th July 2014
The Treasury, in exercise of the powers conferred by section 148(5) and (6) of the Financial Services (Banking Reform) Act 2013(1), make the following Order:
1.—(1) This Order may be cited as the Financial Services (Banking Reform) Act 2013 (Commencement No. 5) Order 2014.
(2) In this Order, “the Act” means the Financial Services (Banking Reform) Act 2013.
2.—(1) 25th July 2014 is the day appointed for the coming into force of the following provisions of the Act—
(a)section 19,
(b)section 27,
(c)section 28, and
(d)section 33.
(2) 25th July 2014 is the day appointed for the coming into force of the following provisions of the Act for the purpose of the making of rules—
(a)section 18,
(b)section 29,
(c)section 30, and
(d)section 31.
(3) 25th July 2014 is the day appointed for the coming into force of section 20 of the Act for the purpose of giving directions or imposing requirements.
(4) 25th July 2014 is the day appointed for the coming into force of section 35 of the Act, for the purpose of introducing the following provisions of Schedule 3 to the Act—
(a)paragraph 2 in so far as it relates to the making of rules, and
(b)paragraphs 7, 8, 9, 16(b)(i), 17(b)(i), 19(2)(b)(i) and 19(3)(b)(i).
Sam Gyimah
Anne Milton
Two of the Lords Commissioners of Her Majesty’s Treasury
9th July 2014
(This note is not part of the Order)
This Order brings into force certain provisions of the Financial Services (Banking Reform) Act 2013 (c. 33) (“the Act”) relating to the conduct of persons working in the financial services sector, to enable the Prudential Regulatory Authority and the Financial Conduct Authority to consult on and make the rules provided for in Part 4 of the Act (conduct of persons working in financial services sector), and to issue the statement of policy required by section 27. This is the fifth commencement order to be made under the Act.
This Order will have no effect on the costs of business and the voluntary sector independent of the provisions this Order brings into force. For that reason, no impact assessment has been produced for this instrument.
(This note is not part of the Order)
| Provision | Date of Commencement | S.I. No. |
|---|---|---|
| Section 4 (partially) | 1st March 2014 | 2014/377 |
| Section 6 | 1st March 2014 | 2014/377 |
| Sections 14 and 15 | 1st March 2014 | 2014/377 |
| Section 16 | 1st April 2014 | 2014/377 |
| Section 17 (partially) | 1st March 2014 | 2014/377 |
| Section 39 to 58 | 1st March 2014 | 2014/377 |
| Section 59 | 1st April 2014 | 2014/823 |
| Section 60(1), (2), (3) and (7) | 1st April 2014 | 2014/823 |
| Section 63 to 66 | 1st April 2014 | 2014/823 |
| Section 67(3),(4) and (5) | 1st April 2014 | 2014/823 |
| Section 68 to 110 | 1st March 2014 | 2014/377 |
| Section 121(1) (partially) | 1st March 2014 | 2014/377 |
| Section 121(3) (partially) | 1st March 2014 | 2014/377 |
| Section 130 | 1st March 2014 | 2014/377 |
| Section 132 | 1st March 2014 | 2014/377 |
| Section 134 | 1st March 2014 | 2014/377 |
| Section 135 | 1st March 2014 | 2014/377 |
| Section 136 | 1st March 2014 | 2014/377 |
| Section 137 | 1st March 2014 | 2014/377 |
| Section 139 | 21st March 2014 | 2014/772 |
| Section 140(1) to (3) | 21st March 2014 | 2014/772 |
| Section 140(4) to (6) | 21st March 2014 | 2014/785 |
| Section 141 (partially) | 1st March 2014 | 2014/377 |
| Section 141 (in so far as not already in force) | 1st April 2014 | 2014/377 |
| Schedule 1 | 1st March 2014 | 2014/377 |
| Schedule 2, paragraph 4 (so far as it inserts section 48P of the Banking Act 2009) | 1st March 2014 | 2014/377 |
| Schedule 2, paragraph 6(8) (so far as it inserts sections 60A and 60B of the Banking Act 2009) | 1st March 2014 | 2014/377 |
| Schedules 4 and 5 | 1st March 2014 | 2014/377 |
| Schedule 10 paragraphs 1, 2 and 4 to 9 | 1st March 2014 | 2014/377 |
| Schedule 10 paragraph 3 | 1st April 2014 | 2014/377 |
| Schedule 10 paragraph 10 (partially) | 1st March 2014 | 2014/377 |
| Schedule 10 paragraph 10 (in so far as not already in force) | 1st June 2014 | 2014/377 |