2015 No. 2055 (C. 128)

Banks And Banking

The Financial Services (Banking Reform) Act 2013 (Commencement No. 9) (Amendment) Order 2015

Made

The Treasury make the following Order in exercise of the powers conferred by section 148(5) of the Financial Services (Banking Reform) Act 20131:

Citation1

This Order may be cited as the Financial Services (Banking Reform) Act 2013 (Commencement No. 9) (Amendment) Order 2015.

Amendments to the Financial Services (Banking Reform) Act 2013 (Commencement No. 9) Order 20152

1

Article 2(1) of the Financial Services (Banking Reform) Act 2013 (Commencement No. 9) Order 20152 is amended as follows.

2

In sub-paragraph (b)—

a

for “30” substitute “30(1) and (2)”; and

b

at the end of that sub-paragraph omit “and”.

3

In sub-paragraph (c) for “32” substitute “32(1)”.

4

After sub-paragraph (c) insert—

; and

d

section 30(3) for the purpose of inserting sections 64A and 64B(1) to (4), (6) and (7) into FSMA so far as those provisions are not already in force; and

e

section 32(2) for the purpose of inserting the following provisions into FSMA

i

subsection (1) of section 66A so far as that subsection applies to Conditions A and B;

ii

subsections (2) to (4), (8) and (9) of section 66A;

iii

subsection (1) of section 66B so far as that subsection applies to Conditions A and B; and

iv

subsections (2) to (4), (8) and (9) of section 66B.

David EvennettMel StrideTwo of the Lords Commissioners of Her Majesty’s Treasury
EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends the Financial Services (Banking Reform) Act 2013 (Commencement No. 9) Order 2015 (“the 2015 Order”) which brings into force provisions of the Financial Services (Banking Reform) Act 2013 (c. 33) (“the 2013 Act”) relating to the regulation of persons performing functions in relation to financial services firms.

Article 2 of this Order amends Article 2(1) of the 2015 Order which brings into force provisions in sections 30 and 32 of the 2013 Act.

Section 30 of the 2013 Act inserts sections 64A and 64B into the Financial Services and Markets Act 2000 (c. 8) (“FSMA”). The 2015 Order was made to bring into force these new sections on 7 March 2016 so far as they were not already in force. The effect of this Order is that these new sections come into force on 7 March 2016 with the exception of section 64B(5) of FSMA.

Section 32 of the 2013 Act amends section 66 of FSMA and inserts sections 66A and 66B into FSMA. The 2015 Order was made to brings into force these amendments and new sections on 7 March 2016. The effect of this Order is that these amendments and new sections come into force on 7 March 2016 so far as they apply to Conditions A and B as described in section 66A(2) and (3) and section 66B(2) and (3) of FSMA.

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.

NOTE AS TO EARLIER COMMENCEMENT ORDERS

(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

Section 13

31st December 2014

2014/3160

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 17 (so far as not already in force)

31st December 2014

2014/3160

Section 18 (partially)

25th July 2014

2014/1819

Section 18 (so far as not already in force)

7th March 2016

2015/490

Section 19

25th July 2014

2014/1819

Section 20 (partially)

25th July 2014

2014/1819

Section 20 (so far as not already in force)

7th March 2016

2015/490

Sections 21 to 26

7th March 2016

2015/490

Sections 27 and 28

25th July 2014

2014/1819

Section 29 (partially)

25th July 2014

2014/1819

Section 29 (so far as it inserts section 63F of the Financial Services and Markets Act 2000)

7th March 2016

2015/490

Section 29 (so far as not already in force)

7th March 2017

2015/490

Section 30 (partially)

25th July 2014

2014/1819

Section 30 (so far as not already in force)

7th March 2016

2015/490

Section 31 (partially)

25th July 2014

2014/1819

Section 31 (so far as not already in force)

7th March 2016

2015/490

Section 32

7th March 2016

2015/490

Section 33

25th July 2014

2014/1819

Section 34

7th March 2016

2015/490

Section 35 (partially)

25th July 2014

2014/1819

Section 35 (so far as not already in force)

7th March 2016

2015/490

Section 36 to 38

7th March 2016

2015/490

Sections 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 60 (so far as not already in force)

1st April 2015

2014/2458

Section 61 (partially)

1st November 2014

2014/2458

Section 61 (so far as not already in force)

1st April 2015

2014/2458

Section 62

1st April 2015

2014/2458

Sections 63 to 66

1st April 2014

2014/823

Section 67(2) (partially)

1st November 2014

2014/2458

Section 67(3), (4) and (5)

1st April 2014

2014/823

Section 67 (so far as not already in force)

1st April 2015

2014/2458

Sections 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 129 (partially)

1st November 2014

2014/2458

Section 129 (so far as not already in force)

1st April 2015

2014/2458

Section 130

1st March 2014

2014/377

Section 132

1st March 2014

2014/377

Section 133(1) (so far as it inserts section 192JB of the Financial Services and Markets Act 2000)

31st December 2014

2014/3160

Section 133(2)(a)

31st December 2014

2014/3160

Section 134 to 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 (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

Schedule 2 (so far as not already in force)

31st December 2014

2014/3160

Schedule 3, paragraph 2 (partially)

25th July 2014

2014/1819

Schedule 3, paragraphs 7, 8, 9, 16(b)(i), 17(b)(i), 19(2)(b)(i) and 19(3)(b)(i)

25th July 2014

2014/1819

Schedule 3 (so far as not already in force)

7th March 2016

2015/490

Schedules 4 and 5

1st March 2014

2014/377

Schedule 6, paragraph 6 (partially)

1st March 2014

2014/377

Schedule 8, paragraphs 3 and 9 (both partially)

1st November 2014

2014/2458

Schedule 8, paragraphs 4, 5 and 7

1st November 2014

2014/2458

Schedule 8 (so far as not already in force)

1st April 2015

2014/2458

Schedule 9, paragraph 4

26th March 2014

2015/428

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 (so far as not already in force)

1st June 2014

2014/377