Section 80 Regulations imposing requirements on overseas-based banks.
United Kingdom
The Treasury may, after consultation with the F1Authority, by regulations impose on overseas institutions which have established or propose to establish representative offices in the United Kingdom such requirements as the Treasury consider appropriate in connection with those offices and the activities conducted from them.
Regulations under this section may in particular require the establishment or continued existence of a representative office to be authorised by the Authority and such regulations may make provision for—
the granting and revocation of such authorisations;
the imposition of conditions in connection with the grant or retention of such authorisations; and
appeals against the refusal or withdrawal of such authorisations or the imposition of such conditions.
No regulations shall be made under this section unless a draft of the regulations has been laid before and approved by a resolution of each House of Parliament.
Annotations
Textual amendments
- F1
Words in s. 80 substituted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. I Ch. I para. 17; S.I. 1998/1120, art. 2
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Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(d)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