http://www.legislation.gov.uk/uksi/2018/1306/madeThe Financial Services (Banking Reform) Act 2013 (Commencement No. 12) Order 2018enKing's Printer of Acts of Parliament2018-12-05BANKS AND BANKING This Order brings into force on 1st January 2019 the provisions of the Financial Services (Banking Reform) Act 2013 (c. 33) (“the Act”) relating to the ring-fencing regime that are not already in force. This is the twelfth commencement order to be made under the Act that extends to the United Kingdom. 2018 No. 1306 (C. 93) Banks And Banking The Financial Services (Banking Reform) Act 2013 (Commencement <Abbreviation Expansion="Number">No.</Abbreviation> 12) Order 2018 Made 4th December 2018 The Treasury make the following Order in exercise of the powers conferred by section 148(5) and (6) of the Financial Services (Banking Reform) Act 2013: Citation and interpretation 1 1 This Order may be cited as the Financial Services (Banking Reform) Act 2013 (Commencement No. 12) Order 2018. 2 In this Order “the Act” means the Financial Services (Banking Reform) Act 2013. Appointed day for the coming into force of certain provisions of the Act 2 1st January 2019 is the appointed day for the coming into force of the following provisions of the Act— a section 1 (objectives of Prudential Regulation Authority); b section 2 (modification of objectives of Financial Conduct Authority); c section 3 (amendment of PRA power of direction); d section 4 (ring-fencing of certain activities), so far as that section is not already in force; e section 5 (PRA annual report); f section 7 (building societies: power to make provision about ring-fencing); g section 8 (reviews); h section 9 (PRA review of proprietary trading); i section 10 (independent review of propriety trading); j section 11 (reviews of proprietary trading: interpretation); k section 12 (right to obtain documents and information); and l section 133 (power of FCA and PRA to make rules applying to parent undertakings), so far as that section is not already in force. David Rutley Craig Whittaker Two of the Lords Commissioners of Her Majesty’s Treasury 4th December 2018 EXPLANATORY NOTE (This note is not part of the Order)

This Order brings into force on 1st January 2019 the provisions of the Financial Services (Banking Reform) Act 2013 (c. 33) (“the Act”) relating to the ring-fencing regime that are not already in force. This is the twelfth commencement order to be made under the Act that extends to the United Kingdom.

The ring-fencing regime applies to ring-fenced bodies, which are UK institutions that fall within the definition in section 142A of the Financial Services and Markets Act 2000 (“FSMA”). The coming into force of the provisions of the Act set out in this Order will enable the ring-fencing regime to take effect.

An impact assessment of the effect that ring-fencing will have on the costs of business, the voluntary sector and the public sector has been prepared and is available on HM Treasury’s website (www.gov.uk/treasury) or from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ. No separate impact assessment has been produced for this Order.

 NOTE AS TO EARLIER COMMENCEMENT ORDERS (This note is not part of the Order)
ProvisionDate of CommencementS.I. No.
Section 4 (partially)1st March 20142014/377
Section 4 (for the purpose of inserting section 142H of FSMA)21st April 20162016/512
Section 61st March 20142014/377
Section 1331st December 20142014/3160
Sections 14 and 151st March 20142014/377
Section 161st April 20142014/377
Section 17 (partially)1st March 20142014/377
Section 17 (so far as not already in force)31st December 20142014/3160
Section 18 (partially)25th July 20142014/1819
Section 18 (so far as not already in force)7th March 20162015/490
Section 1925th July 20142014/1819
Section 20 (partially)25th July 20142014/1819
Section 20 (so far as not already in force)7th March 20162015/490
Sections 21 to 267th March 20162015/490
Sections 27 and 2825th July 20142014/1819
Section 29 (partially)25th July 20142014/1819
Section 29 (for the purpose of inserting section 63F of FSMA)7th March 20162015/490
Section 29 (so far as not already in force)7th March 20172015/490
Section 30 (partially)25th July 20142014/1819
Section 30 (so far as not already in force)7th March 20162015/490
Section 31 (partially)25th July 20142014/1819
Section 31 (so far as not already in force)7th March 20162015/490
Section 32 (partially)7th March 20162015/490
Section 32 (so far as not already in force)10th May 20162016/568
Section 3325th July 20142014/1819
Section 347th March 20162015/490
Section 35 (partially)25th July 20142014/1819
Section 35 (so far as not already in force)7th March 20162015/490
Sections 36 to 387th March 20162015/490
Sections 39 to 581st March 20142014/377
Section 591st April 20142014/823
Section 60(1), (2), (3) and (7)1st April 20142014/823
Section 60 (so far as not already in force)1st April 20152014/2458
Section 61 (partially)1st November 20142014/2458
Section 61 (so far as not already in force)1st April 20152014/2458
Section 621st April 20152014/2458
Sections 63 to 661st April 20142014/823
Section 67(2) (partially)1st November 20142014/2458
Section 67(3), (4) and (5)1st April 20142014/823
Section 67 (so far as not already in force)1st April 20152014/2458
Sections 68 to 1101st March 20142014/377
Sections 111 to 120 (partially)13th July 20182018/848
Section 121(1) (partially)1st March 20142014/377
Section 121(3) (partially)1st March 20142014/377
Section 121 (partially)13th July 20182018/848
Sections 122 to 128 (partially)13th July 20182018/848
Section 129 (partially)1st November 20142014/2458
Section 129 (so far as not already in force)1st April 20152014/2458
Section 1301st March 20142014/377
Section 1321st March 20142014/377
Section 133(1) (for the purpose of inserting section 192JB of FSMA)31st December 20142014/3160
Section 133(1) (for the purpose of inserting section 192JA of FSMA)21st April 20162016/512
Section 133(2)(a)31st December 20142014/3160
Sections 134 to 1371st March 20142014/377
Section 13921st March 20142014/772
Section 140(1) to (3)21st March 20142014/772
Section 140(4) to (6)21st March 20142014/785
Section 141 (partially)1st March 20142014/377
Section 141 (so far as not already in force)1st April 20142014/377
Schedule 11st March 20142014/377
Schedule 2, paragraph 4 (for the purpose of inserting section 48P of the Banking Act 2009) 1st March 20142014/377
Schedule 2, paragraph 6(8) (for the purpose of inserting sections 60A and 60B of the Banking Act 2009)1st March 20142014/377
Schedule 2 (so far as not already in force)31st December 20142014/3160
Schedule 3, paragraph 2 (partially)25th July 20142014/1819
Schedule 3, paragraphs 7, 8, 9, 16(b)(i), 17(b)(i), 19(2)(b)(i) and 19(3)(b)(i)25th July 20142014/1819
Schedule 3 (so far as not already in force)7th March 20162015/490
Schedules 4 and 51st March 20142014/377
Schedule 6, paragraph 6 (partially)1st March 20142014/377
Schedule 6 (partially)13th July 20182018/848
Schedule 7 (partially)13th July 20182018/848
Schedule 8, paragraphs 3 and 9 (both partially)1st November 20142014/2458
Schedule 8, paragraphs 4, 5 and 71st November 20142014/2458
Schedule 8 (so far as not already in force)1st April 20152014/2458
Schedule 9, paragraph 426th March 20152015/428
Schedule 10 paragraphs 1, 2 and 4 to 91st March 20142014/377
Schedule 10 paragraph 31st April 20142014/377
Schedule 10 paragraph 10 (partially)1st March 20142014/377
Schedule 10 paragraph 10 (so far as not already in force)1st June 20142014/377
2013 c. 33.