# The Banking Act 1987 (Disclosure of Information) (Specified Persons) Order 1993

S.I. 1993/491 · made 3 March 1993

This Order adds the Operator as defined in the Uncertificated Securities Regulations 1992 (S.I. 1992/225) to the list of persons specified in the Table in section 84(1) of the Banking Act 1987 to whom information subject to the restrictions on disclosure in section 82 of the 1987 Act may be disclosed by the Bank of England to enable such persons to discharge specified functions. The Operator is currently The International Stock Exchange, which in its capacity as TAURUS operator is responsible for procedures which enable title to securities to be evidenced and transferred without a written instrument. The specified functions are certain functions of the Treasury under the Uncertificated Securities Regulations 1992 which are for the time being delegated to the Operator. The functions originally conferred on the Secretary of State by the Uncertificated Securities Regulations 1992 were transferred to the Treasury by the Transfer of Functions (Financial Services) Order 1992 (S.I. 1992/1315). The functions specified in the Order are the admission and supervision of participants in the system for dealing with securities other than by written instrument, the termination of their participation and the provision of a compensation scheme.

Made under: Banking Act 1987 (repealed) (Section 84)

## Introductory text

BANKS AND BANKING
Made 3rd March 1993
Laid before Parliament 8th March 1993
Coming into force 29th March 1993
The Treasury, in exercise of the powers conferred on them by section 84(2) of the Banking Act 1987 and of all other powers enabling them in that behalf, and after consultation with the Bank of England, hereby make the following Order:

## 1 Citation and commencement

This Order may be cited as the Banking Act 1987 (Disclosure of Information) (Specified Persons) Order 1993 and shall come into force on 29th March 1993.

## 2 Addition of specified person

The Table in subsection (1) of section 84 of the Banking Act 1987 is amended by the addition of the following new entry—
“
21.
The Operator within the meaning of the Uncertificated Securities Regulations 1992.
Functions of the Treasury under Parts IX, X, XII and XIV of the Uncertificated Securities Regulations 1992 which are for the time being delegated to the Operator.
”

## Signature

Tim Wood
Irvine Patnick
Two of the Lords Commissioners of Her Majesty’s Treasury
3rd March 1993

## Explanatory note

(This note is not part of the Order)
This Order adds the Operator as defined in the Uncertificated Securities Regulations 1992 (S.I. 1992/225) to the list of persons specified in the Table in section 84(1) of the Banking Act 1987 to whom information subject to the restrictions on disclosure in section 82 of the 1987 Act may be disclosed by the Bank of England to enable such persons to discharge specified functions. The Operator is currently The International Stock Exchange, which in its capacity as TAURUS operator is responsible for procedures which enable title to securities to be evidenced and transferred without a written instrument. The specified functions are certain functions of the Treasury under the Uncertificated Securities Regulations 1992 which are for the time being delegated to the Operator. The functions originally conferred on the Secretary of State by the Uncertificated Securities Regulations 1992 were transferred to the Treasury by the Transfer of Functions (Financial Services) Order 1992 (S.I. 1992/1315). The functions specified in the Order are the admission and supervision of participants in the system for dealing with securities other than by written instrument, the termination of their participation and the provision of a compensation scheme.

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Source: https://www.legislation.gov.uk/uksi/1993/491 (the official version)
Page: https://openlegislation.uk/banking-act-1987-disclosure-of-information-specified-persons-order-1993
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.