{
  "url": "https://openlegislation.uk/banking-act-2009/section-259",
  "json_url": "https://openlegislation.uk/banking-act-2009/section-259.json",
  "legislation": "ukpga/2009/1",
  "legislation_title": "Banking Act 2009",
  "legislation_url": "https://openlegislation.uk/banking-act-2009",
  "path": "section/259",
  "kind": "section",
  "number": "259",
  "heading": "Statutory instruments",
  "text": "(1) A statutory instrument under this Act—\n(a) may make provision that applies generally or only for specified purposes, cases or circumstances,\n(b) may make different provision for different purposes, cases or circumstances, and\n(c) may include incidental, consequential or transitional provision.\n(2) No statutory instrument under this Act shall be treated as a hybrid instrument under Standing Orders of either House of Parliament.\n(3) The Table lists the powers to make statutory instruments under this Act and the arrangements for Parliamentary scrutiny in each case (which are subject to subsections (4) to (6)).\nSection\nTopic\nParliamentary scrutiny\nPART 1–Special resolution regime\n2\nMeaning of “bank”\nDraft affirmative resolution\n2(2A)\nCriteria for determining what are critical functions\nNegative resolution\n25\nShare transfer orders\nNegative resolution\n47\nPartial transfers\nDraft affirmative resolution\n48\nProtection of interests\nDraft affirmative resolution\n48B(13A)\nFurther provision connected with functions under section 48B(10)\nDraft affirmative resolution\n48B(16)\nCriteria for determining what are core business lines\nNegative resolution\n48F(1) and (2)\nPower to amend definition of “excluded liabilities”\nDraft affirmative resolution\n48G\nInsolvency treatment principles\nDraft affirmative resolution\n48P\nSafeguarding of certain financial arrangements\nDraft affirmative resolution\n52A\nBail-in compensation orders\nDraft affirmative resolution\n55\nIndependent valuer\nNegative resolution\n56\nIndependent valuer: money\nNegative resolution\n60\nThird party compensation: partial property transfers\nDraft affirmative resolution\n60A\nThird party compensation: instruments containing special bail-in provision\nDraft affirmative resolution\n62\nCompensation orders\nDraft affirmative resolution\n69\nContinuity obligations: consideration and terms\nNegative resolution\n. . .\n. . .\n. . .\n74\nTax\nDraft affirmative resolution (Commons only)\n75\nPower to change law\nDraft affirmative resolution (except for urgent cases)\n78\nPublic funds\nNegative resolution (Commons only)\n81D\nMeaning of “banking group company”\nDraft affirmative resolution (except for urgent cases)\n83ZY\nEnforcement of share transfer orders\nNegative resolution\n85\nBuilding societies: orders\nNegative resolution\n86\nBuilding societies: assets\n(As for orders under section 90B of the Building Societies Act 1986)\n88\nBuilding societies: consequential\nDraft affirmative resolution\n89\nCredit unions\nDraft affirmative resolution\n. . .\n. . .\n. . .\n89JA(8) (modified section 48B(17B))\nCriteria for determining what are core business lines\nNegative resolution\nPART 2–Bank insolvency\n91\nMeaning of “bank”\nDraft affirmative resolution\n122\nApplication of insolvency law\nDraft affirmative resolution\n125\nRules\n(Expansion of power in section 411 of the Insolvency Act 1986)\n130\nBuilding societies\nDraft affirmative resolution\n131\nCredit unions\nDraft affirmative resolution\n132\nPartnerships\n(As for orders under section 420 of the Insolvency Act 1986)\n133\nScottish partnerships\nNegative resolution\n135\nConsequential provision\nDraft affirmative resolution\nPART 3–Bank administration\n148\nSharing information\nNegative resolution\n149\nMultiple original transfers\nDraft affirmative resolution\n152\nTransfer from temporary public ownership\nDraft affirmative resolution\n152A\nProperty transfer from transferred institution\nDraft affirmative resolution\n156\nApplication of other law\nDraft affirmative resolution\n158\nBuilding societies\nDraft affirmative resolution\n159\nCredit unions\nDraft affirmative resolution\n160\nRules\n(Expansion of power in section 411 of the Insolvency Act 1986)\n163\nPartnerships\n(As for orders under section 420 of the Insolvency Act 1986)\n164\nScottish partnerships\nNegative resolution\n168\nConsequential provision\nDraft affirmative resolution\nPART 4–Financial Services Compensation Scheme\n170\nContingency funding\nDraft affirmative resolution\n. . .\n. . .\n. . .\n173\nBorrowing from National Loans Fund\nNegative resolution\nPART 5–... payment systems\n182(5C)\nMeaning of “digital settlement asset” and “DSA service provider\nDraft affirmative resolution\n191\nBank of England directions: immunity\nNegative resolution\n203\nFees regulations\nNegative resolution\n204\nInformation\nNegative resolution\n206A\nServices forming part of recognised ... payment systems\nDraft affirmative resolution\nPART 5A - Wholesale cash distribution\n206M\nBank of England directions: immunity\nNegative resolution\n206Z\nFees regulations\nNegative resolution\n206Z4\nInformation\nNegative resolution\n206Z6\nPower to disapply regulation and enforcement provisions\nDraft affirmative resolution\nPART 6–Banknotes: Scotland and Northern Ireland\n214A\nIssuers of banknotes: Scotland and Northern Ireland\nDraft affirmative resolution\n215\nBanknote regulations\nDraft affirmative resolution\nPART 7–Miscellaneous\n230\nFinancial institution\nNegative resolution\n232(6)\nInvestment banks: definition\nDraft affirmative resolution\n232(7)\nInvestment banks: definition of investment activity\nNegative resolution\n233\nInvestment banks: insolvency\nDraft affirmative resolution\n249\nPRA or FCA— functions\nDraft affirmative resolution\n251\nCentral banks: assistance to building societies\nDraft affirmative resolution\n255\nFinancial collateral arrangements\nDraft affirmative resolution\nPART 8–General\n257\nFinancial assistance\nNegative resolution\n258A\nMeaning of “investment firm”\nDraft affirmative resolution (except for urgent cases)\n262\nRepeal of Banking (Special Provisions) Act 2008\nNone\n263\nCommencement\nNone\n(4) A power listed in subsection (5) may be exercised without a draft being laid before and approved by resolution of each House of Parliament if—\n(a) the power is being exercised for the first time, and\n(b) the person exercising it is satisfied that it is necessary to exercise it without laying a draft for approval.\n(5) The powers are those in—\n(a) section 2 (special resolution regime: meaning of “bank”),\n(b) section 47 (special resolution regime: partial transfers),\n(c) section 48 (special resolution regime: protection of interests),\n(d) section 60 (special resolution regime: third party compensation),\n(da) section 60A (special resolution regime: instruments containing special bail-in provision),\n(e) section 88 (special resolution regime: building societies: consequential),\n(f) section 91 (bank insolvency: meaning of “bank”),\n(g) section 122 (bank insolvency: application of insolvency law),\n(h) section 130 (bank insolvency: building societies),\n(i) section 135 (bank insolvency: consequential provision),\n(j) section 149 (bank administration: multiple original transfers),\n(k) section 152 (bank administration: transfer from temporary public ownership),\n(ka) section 152A (bank administration: property transfer from transferred institution),\n(l) section 156 (bank administration: application of other law),\n(m) section 158 (bank administration: building societies),\n(n) section 168 (bank administration: consequential provision), ...\n(o) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(6) Where an instrument is made in reliance on subsection (5)—\n(a) it shall lapse unless approved by resolution of each House of Parliament during the period of 28 days (ignoring periods of dissolution, prorogation or adjournment of either House for more than 4 days) beginning with the day on which the instrument is made,\n(b) the lapse of an instrument under paragraph (a) does not invalidate anything done under or in reliance on it before its lapse and at a time when neither House has declined to approve it, and\n(c) the lapse of an instrument under paragraph (a) does not prevent the making of a new one (in new terms).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 259(3) Table inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 55(2); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 259(3) Table inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 55(3); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 259(3) Table inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 31(b); S.I. 2014/3160, art. 2(1)(b)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 259(3) Table substituted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 31(a); S.I. 2014/3160, art. 2(1)(b)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 259(3) Table omitted (1.1.2015) by virtue of The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 110(2)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 259(3) Table inserted (5.6.2014 for specified purposes, 1.8.2014 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 100(6), 122(3) (with Sch. 20); S.I. 2014/1447, art. 2(c); S.I. 2014/1847, art. 2"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 259(3) Table inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 110(3)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in s. 259 Table omitted (31.12.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 162(7); S.I. 2023/1382, reg. 8(b) (with reg. 14)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in s. 259(3) Table inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 55(4); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in s. 259(3) Table inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 31(c); S.I. 2014/3160, art. 2(1)(b)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in s. 259(3) Table omitted (8.4.2010) by virtue of Financial Services Act 2010 (c. 28), s. 26(1)(l), Sch. 2 para. 48(2)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Word in s. 259(3) Table omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 29(a)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in s. 259(3) Table inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 39"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "Words in s. 259(3) Table inserted (8.4.2010) by Financial Services Act 2010 (c. 28), s. 26(1)(l), Sch. 2 para. 48(3)"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "Word in s. 259(3) Table omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 29(b)"
    },
    {
      "type": "F",
      "label": "F16",
      "text": "Words in s. 259(3) Table inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 11"
    },
    {
      "type": "F",
      "label": "F17",
      "text": "Words in s. 259(3) inserted Table (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 38(6), 41(3); S.I. 2016/627, reg. 2(1)(bb)"
    },
    {
      "type": "F",
      "label": "F18",
      "text": "Word in s. 259(3) Table substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 61(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F19",
      "text": "Words in s. 259(3) Table inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 61(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F20",
      "text": "Words in s. 259(3) Table substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 61(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F21",
      "text": "Words in s. 259(3) Table substituted (29.4.2021) by Financial Services Act 2021 (c. 22), ss. 41(6), 49(1)(c)"
    },
    {
      "type": "F",
      "label": "F22",
      "text": "Words in s. 259(3) Table inserted (5.6.2014 for specified purposes, 1.8.2014 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 101(8), 122(3) (with Sch. 20); S.I. 2014/1447, art. 2(f); S.I. 2014/1847, art. 2"
    },
    {
      "type": "F",
      "label": "F23",
      "text": "S. 259(5)(da) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 31(d); S.I. 2014/3160, art. 2(1)(b)"
    },
    {
      "type": "F",
      "label": "F24",
      "text": "S. 259(5)(ka) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 31(e); S.I. 2014/3160, art. 2(1)(b)"
    },
    {
      "type": "F",
      "label": "F25",
      "text": "S. 259(5)(o) and word omitted (8.4.2010) by virtue of Financial Services Act 2010 (c. 28), s. 26(1)(l), Sch. 2 para. 48(4)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "S. 259 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 14"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/1/section/259",
    "retrieved_at": "2026-10-29T09:11:28.246347+00:00",
    "licence": "OGL-UK-3.0",
    "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
    "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
  }
}