Section 236 ReviewI1C1C2
The Treasury shall arrange for a review of the effect of any investment bank insolvency regulations.
The review must be completed during the period of 2 years beginning with the date on which the regulations come into force.
The Treasury shall appoint one or more persons to conduct the review; and a person appointed must have expertise in connection with the law of insolvency or financial services.
The review must consider, in particular—
how far the regulations are achieving the objectives specified in section 233(3), and
whether the regulations should continue to have effect.
The review must result in a report to the Treasury.
The Treasury shall lay a copy of the report before Parliament.
If a review recommends further reviews—
the Treasury may arrange for the further reviews, and
subsections (3) to (6) (and this subsection) shall apply to them.
Annotations
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. 236 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 6