# Banking Act 2009, Section 89A: Application to investment firms

Extent: E+W+S+N.I.

(1) This Part applies to investment firms as it applies to banks, subject to the modifications in the following Table—
Provision
Modification
Section 1
Ignore subsection (2)(b).
Section 3
In subsection (1), in the definition of “normal insolvency proceedings” ignore the reference to the bank insolvency procedure.
Section 4
Ignore subsections (2)(b), (6) and (7)(b).
Section 5
Ignore subsection (1)(b).
Section 7
Ignore subsection (7).
. . .
. . .
Section 8ZA
In subsection (5), ignore the reference to the bank insolvency procedure.
Section 12AA
References to normal insolvency proceedings do not include a reference to the bank insolvency procedure.
Section 14
Ignore subsection (5).
Section 60
In subsection (3)(c), ignore the reference to bank insolvency.
Section 60B
In subsection (4), ignore the reference to bank insolvency.
Section 63
In subsection (1A), ignore the reference to bank insolvency.
Section 66
In subsection (1ZA), ignore the reference to bank insolvency.
(2) In the case of investment firms which are FCA-regulated investment firms, in subsection (1) the reference to this Part is a reference to this Part as it applies to FCA-regulated banks by virtue of section 83A.
(3) In this section—
“FCA-regulated bank” has the meaning given by section 83A(2);
“FCA-regulated investment firm” means an investment firm which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/89A (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-89A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.