- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
2.—(1) The Bank of England Act 1998 (Macro-prudential Measures) Order 2013(1) is amended as follows.
(2) In article 1(2)—
(a)in the definition of “FSMA cost benefit analysis”, after “Part 9A” insert “or section 192XA”(2);
(b)after the definition of “FSMA cost benefit analysis” insert—
““holding company” means a financial holding company or a mixed financial holding company;”;
(c)omit the definition of “mixed financial holding company”.
(3) At the start of article 2(2), insert “Subject to paragraph (3),”.
(4) In the table in article 2(2), after “UK banks” each time it occurs insert “, or their holding companies,”.
(5) In the table in article 2(2), after “UK investment firms which are PRA-authorised persons” each time it occurs insert “, or their holding companies,”.
(6) In the table in article 2(2), after “on such UK investment firms” insert “, or their holding companies,”.
(7) After article 2(2), insert—
“(3) Where a measure listed in the table is applied to the holding company of a UK bank or of a UK investment firm which is a PRA-authorised person, the measure may only be applied to that holding company on, or by reference to, a consolidated basis.”.
S.I. 2013/644, as amended by S.I. 2016/1240, section 24 of the Financial Services Act 2012 and to which there are other amendments not relevant to this Order.
Section 192XA was inserted by Part 1, Schedule 3 to the Financial Services Act 2021 (c. 22).
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: