Section 12A Revocation or restriction on information from supervisory authority.F1C1
United Kingdom
This section applies where, in the case of an authorised institution which is a credit institution incorporated in or formed under the law of any part of the United Kingdom, the F2Authority is informed by a supervisory authority in another member State that the institution is failing to comply with an obligation imposed by or under any rule of law in force in that State for purposes connected with the implementation of F3those provisions of the Banking Consolidation Directive which were previously comprised in Directive 89/646/EEC.
The Authority shall as soon as practicable send a copy of the information received by it to every other authority which it knows is a connected UK authority.
The Authority shall also—
consider whether to exercise its powers under section 11 or 12 above; and
notify its decision, and any action which it has taken or intends to take, to the supervisory authority and to every other authority which it knows is a connected UK authority.
Annotations
Textual amendments
- F1
S. 12A inserted (1.1.1993) by S.I. 1992/3218, reg. 29.
- F2
Words in s. 12A substituted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. I Ch. I para. 7; S.I. 1998/1120, art. 2
- F3
Words in s. 12A(1) substituted (22.11.2000) by S.I. 2000/2952, reg. 5(3)
Modifications
- C1
S. 12A extended (1.1.1996) by S.I. 1995/1325, reg. 57, Sch. 10 Pt. I para. 9
Notes on the whole Act
Textual amendments
- F1
Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(d)
Act continued (with modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9(1), Sch. 1 Pt. 1; S.I. 2001/3538 (as amended (1.4.2013) by S.I. 2013/472, arts. 1(1), 3, Sch. 2 para. 56(h)(i)); and specified provisions of Act applied, extended and amended (1.4.2003) so far as still in force by 2001 c. 16, ss. 50, 52-54, 57(1)(j)(4), 68, 138(2), Sch. 1 para. 43, Sch. 2 para. 16(2)(d); S.I. 2003/708, art. 2