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Section 70D Suspension: general provisionsF1

(1)

For the purposes of sections 70A to 70C—

  • “business day” means any day other than a Saturday, a Sunday, or a day which is a bank holiday under the Banking and Financial Dealings Act 1971 in any part of the United Kingdom;

  • “excluded person” means—

    1. (a)

      a person who has been declared to be, or who is an operator of, a designated system under regulation 4 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999,

    2. (b)

      F2...

    3. (c)

      a recognised central counterparty F3... or third country central counterparty, or

    4. (d)

      a central bank.

(2)

For the purposes of subsection (1) F4..., “recognised central counterparty” and “third country central counterparty” have the meaning given in section 285 of the Financial Services and Markets Act 2000.

Annotations

Textual amendments

F1

Ss. 70A-70D inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 77

F2

Words in s. 70D(1) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 27(2)(a); 2020 c. 1, Sch. 5 para. 1(1)

F3

Words in s. 70D(1) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 27(2)(b); 2020 c. 1, Sch. 5 para. 1(1)

F4

Words in s. 70D(2) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 27(3); 2020 c. 1, Sch. 5 para. 1(1)

Notes on Part 1

Modifications

C1

Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2

C2

Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2

Notes on Chapter 3

Textual amendments

F1

Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7