# Banking Act 2009, Section 259: Statutory instruments Extent: E+W+S+N.I. (1) A statutory instrument under this Act— (a) may make provision that applies generally or only for specified purposes, cases or circumstances, (b) may make different provision for different purposes, cases or circumstances, and (c) may include incidental, consequential or transitional provision. (2) No statutory instrument under this Act shall be treated as a hybrid instrument under Standing Orders of either House of Parliament. (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)). Section Topic Parliamentary scrutiny PART 1–Special resolution regime 2 Meaning of “bank” Draft affirmative resolution 2(2A) Criteria for determining what are critical functions Negative resolution 25 Share transfer orders Negative resolution 47 Partial transfers Draft affirmative resolution 48 Protection of interests Draft affirmative resolution 48B(13A) Further provision connected with functions under section 48B(10) Draft affirmative resolution 48B(16) Criteria for determining what are core business lines Negative resolution 48F(1) and (2) Power to amend definition of “excluded liabilities” Draft affirmative resolution 48G Insolvency treatment principles Draft affirmative resolution 48P Safeguarding of certain financial arrangements Draft affirmative resolution 52A Bail-in compensation orders Draft affirmative resolution 55 Independent valuer Negative resolution 56 Independent valuer: money Negative resolution 60 Third party compensation: partial property transfers Draft affirmative resolution 60A Third party compensation: instruments containing special bail-in provision Draft affirmative resolution 62 Compensation orders Draft affirmative resolution 69 Continuity obligations: consideration and terms Negative resolution . . . . . . . . . 74 Tax Draft affirmative resolution (Commons only) 75 Power to change law Draft affirmative resolution (except for urgent cases) 78 Public funds Negative resolution (Commons only) 81D Meaning of “banking group company” Draft affirmative resolution (except for urgent cases) 83ZY Enforcement of share transfer orders Negative resolution 85 Building societies: orders Negative resolution 86 Building societies: assets (As for orders under section 90B of the Building Societies Act 1986) 88 Building societies: consequential Draft affirmative resolution 89 Credit unions Draft affirmative resolution . . . . . . . . . 89JA(8) (modified section 48B(17B)) Criteria for determining what are core business lines Negative resolution PART 2–Bank insolvency 91 Meaning of “bank” Draft affirmative resolution 122 Application of insolvency law Draft affirmative resolution 125 Rules (Expansion of power in section 411 of the Insolvency Act 1986) 130 Building societies Draft affirmative resolution 131 Credit unions Draft affirmative resolution 132 Partnerships (As for orders under section 420 of the Insolvency Act 1986) 133 Scottish partnerships Negative resolution 135 Consequential provision Draft affirmative resolution PART 3–Bank administration 148 Sharing information Negative resolution 149 Multiple original transfers Draft affirmative resolution 152 Transfer from temporary public ownership Draft affirmative resolution 152A Property transfer from transferred institution Draft affirmative resolution 156 Application of other law Draft affirmative resolution 158 Building societies Draft affirmative resolution 159 Credit unions Draft affirmative resolution 160 Rules (Expansion of power in section 411 of the Insolvency Act 1986) 163 Partnerships (As for orders under section 420 of the Insolvency Act 1986) 164 Scottish partnerships Negative resolution 168 Consequential provision Draft affirmative resolution PART 4–Financial Services Compensation Scheme 170 Contingency funding Draft affirmative resolution . . . . . . . . . 173 Borrowing from National Loans Fund Negative resolution PART 5–... payment systems 182(5C) Meaning of “digital settlement asset” and “DSA service provider Draft affirmative resolution 191 Bank of England directions: immunity Negative resolution 203 Fees regulations Negative resolution 204 Information Negative resolution 206A Services forming part of recognised ... payment systems Draft affirmative resolution PART 5A - Wholesale cash distribution 206M Bank of England directions: immunity Negative resolution 206Z Fees regulations Negative resolution 206Z4 Information Negative resolution 206Z6 Power to disapply regulation and enforcement provisions Draft affirmative resolution PART 6–Banknotes: Scotland and Northern Ireland 214A Issuers of banknotes: Scotland and Northern Ireland Draft affirmative resolution 215 Banknote regulations Draft affirmative resolution PART 7–Miscellaneous 230 Financial institution Negative resolution 232(6) Investment banks: definition Draft affirmative resolution 232(7) Investment banks: definition of investment activity Negative resolution 233 Investment banks: insolvency Draft affirmative resolution 249 PRA or FCA— functions Draft affirmative resolution 251 Central banks: assistance to building societies Draft affirmative resolution 255 Financial collateral arrangements Draft affirmative resolution PART 8–General 257 Financial assistance Negative resolution 258A Meaning of “investment firm” Draft affirmative resolution (except for urgent cases) 262 Repeal of Banking (Special Provisions) Act 2008 None 263 Commencement None (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— (a) the power is being exercised for the first time, and (b) the person exercising it is satisfied that it is necessary to exercise it without laying a draft for approval. (5) The powers are those in— (a) section 2 (special resolution regime: meaning of “bank”), (b) section 47 (special resolution regime: partial transfers), (c) section 48 (special resolution regime: protection of interests), (d) section 60 (special resolution regime: third party compensation), (da) section 60A (special resolution regime: instruments containing special bail-in provision), (e) section 88 (special resolution regime: building societies: consequential), (f) section 91 (bank insolvency: meaning of “bank”), (g) section 122 (bank insolvency: application of insolvency law), (h) section 130 (bank insolvency: building societies), (i) section 135 (bank insolvency: consequential provision), (j) section 149 (bank administration: multiple original transfers), (k) section 152 (bank administration: transfer from temporary public ownership), (ka) section 152A (bank administration: property transfer from transferred institution), (l) section 156 (bank administration: application of other law), (m) section 158 (bank administration: building societies), (n) section 168 (bank administration: consequential provision), ... (o) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6) Where an instrument is made in reliance on subsection (5)— (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, (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 (c) the lapse of an instrument under paragraph (a) does not prevent the making of a new one (in new terms). --- Source: https://www.legislation.gov.uk/ukpga/2009/1/section/259 (the official version) Page: https://openlegislation.uk/banking-act-2009/section-259 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.