# The Banking Act 2009 (Exclusion of Insurers) Order 2010

S.I. 2010/35 · made 6 January 2010

This Order excludes insurers from the definition of “bank” in Parts 1 and 2 of the Banking Act 2009, ensuring that they fall outside the scope of the provisions of that Act in relation to the special resolution regime and bank insolvency.

Made under: Banking Act 2009 (Section 2, Section 91)

PDFs: Printed copy https://openlegislation.uk/banking-act-2009-exclusion-of-insurers-order-2010/pdf/uksi_20100035_en.pdf; Explanatory Memorandum https://openlegislation.uk/banking-act-2009-exclusion-of-insurers-order-2010/pdf/uksiem_20100035_en.pdf

## Introductory text

Banks And Banking
Made 6th January 2010
Coming into force 7th January 2010
The Treasury make this Order in exercise of the powers conferred by sections 2(2)(c) and 91(2)(c) of the Banking Act 2009.
A draft of this Order has been laid before and approved by a resolution of each House of Parliament in accordance with sections 2(5) and 91(4) of that Act.

## 1 Citation and commencement

This Order may be cited as the Banking Act 2009 (Exclusion of Insurers) Order 2010 and shall come into force on the day after the day on which it is made.

## 2 Interpretation: “bank”

In Part 1 (special resolution regime) and Part 2 (bank insolvency) of the Banking Act 2009, “bank” does not include any institution with permission under Part 4 of the Financial Services and Markets Act 2000 (permission to carry on regulated activities) to effect or carry out contracts of insurance as principal.

## Signature

Tony Cunningham
Frank Roy
Two of the Lords Commissioners of Her Majesty’s Treasury
6th January 2010

## Explanatory note

(This note is not part of the Order)
This Order excludes insurers from the definition of “bank” in Parts 1 and 2 of the Banking Act 2009, ensuring that they fall outside the scope of the provisions of that Act in relation to the special resolution regime and bank insolvency.
An Impact Assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

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Source: https://www.legislation.gov.uk/uksi/2010/35 (the official version)
Page: https://openlegislation.uk/banking-act-2009-exclusion-of-insurers-order-2010
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.