Section 83ZZ Co-operationF1

United Kingdom

In connection with the exercise of its powers to impose sanctions under section 83ZR, the Bank of England must take such steps as it considers appropriate to co-operate with—

(a)

the FCA F2, and

F3(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)

any person who exercises functions outside the United Kingdom equivalent to those exercisable by the Bank under this Part or any other enactment F4which, immediately before IP completion day, gave effect to the recovery and resolution directive.

Annotations

Textual amendments

F1: Pt. 1 Ch. 4 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 97
F2: Word in s. 83ZZ(a) inserted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 53(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F3: S. 83ZZ(b) omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 53(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F4: Words in s. 83ZZ(c) substituted (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. 38 (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 10(b)(iii)); 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