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The Banking Act 2009 (Commencement No. 5) Order 2016

S.I. 2016/598 · Made 23 May 2016

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Financial Services And Markets

Made 23rd May 2016

In exercise of the powers conferred by section 263(1) and (3) of the Banking Act 2009f1, the Treasury make the following Order:

Annotations to the whole text

Footnotes

f1

2009 c.1.

Contents

  1. 1Citation
  2. 2Financial collateral arrangements
  3. Signature
  4. Explanatory note

1Citation

This Order may be cited as the Banking Act 2009 (Commencement No. 5) Order 2016.

2Financial collateral arrangements

Sections 255 and 256 of the Banking Act 2009 come into force on 25th May 2016.

Signature

David Evennett

Mel Stride

Two of the Lords Commissioners of Her Majesty’s Treasury

23rd May 2016

Explanatory note

(This note is not part of the Order)

This Order brings into force sections 255 and 256 of the Banking Act 2009 (c.1) (“the Act”) on 25th May 2016. Section 255 enables the Treasury to make regulations about financial collateral arrangements, and the regulations may in particular include provision implementing the Financial Collateral Arrangements Directive (2002/47/EC) (OJ No L 168, 27.6.2002, p.43). Section 256 contains further provision about regulations under section 255.