Section 235 Regulations: procedureI1I2C1C2
United Kingdom
Investment bank insolvency regulations shall be made by statutory instrument.
Investment bank insolvency regulations may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.
The Treasury must consult before laying draft investment bank insolvency regulations before Parliament.
If the power to make investment bank insolvency regulations has not been exercised before the end of the period of 2 years beginning with the date on which this Act is passed, it lapses.
An order under section 232(6)—
shall be made by statutory instrument, and
may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.
An order under section 232(7)—
is to be made by statutory instrument, and
is subject to annulment in pursuance of a resolution of either House of Parliament.
Annotations
Textual amendments
- F1
S. 235(6) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 57 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
Modifications
- C1
Ss. 233-236 applied (with modifications) by S.I. 2017/752, reg. 23A, Sch. 3A paras. 2-5 (as inserted (8.12.2020) by The Payment Services and Electronic Money (Amendment) Regulations 2020 (S.I. 2020/1275), regs. 1(2), 6, 7)
- C2
Ss. 233-236 applied (with modifications) by S.I. 2011/99, reg. 24A, Sch. 2ZA paras. 2-5 (as inserted (8.12.2020) by The Payment Services and Electronic Money (Amendment) Regulations 2020 (S.I. 2020/1275), regs. 1(2), 3, 4)
Commencement
- I1
S. 235 in force at 17.2.2009 for specified purposes by S.I. 2009/296, arts. 2, 3, Sch. para. 6
- I2
S. 235 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 6