# The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001, Article 161: Power of Bank of England to require undertakings to provide information

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

(1) Section 17 of the Bank of England Act 1998 (power of Bank to require undertakings to provide information for purposes of Bank’s functions under Part 2 of that Act) is amended as follows.
(2) For subsection (3) substitute—
“(3) An undertaking is one to which this section applies if—
(a) it has a place of business in the United Kingdom; and
(b) it falls within subsection (3A), (3B), (3C) or (3D).
(3A) An undertaking falls within this subsection if it is a deposit-taker.
(3B) An undertaking falls within this subsection if it is not a deposit-taker but it—
(a) falls within the subsector “other monetary financial institution”, as defined by paragraph 2.48 of Annex A to Council Regulation (EC) No. 2223/96,
(b) carries on a business of granting credits secured on land used for residential purposes,
(c) has issued a debt security, or
(d) has acted as an agent in connection with arranging or managing the issue of a debt security.
(3C) An undertaking falls within this subsection if it is a financial holding company.
(3D) An undertaking falls within this subsection if it is not a deposit-taker but continues to have a liability in respect of a deposit which was held by it in accordance with the Banking Act 1979 or the Banking Act 1987 or a permission under Part 4 of the Financial Services and Markets Act 2000.”.
(3) In subsection (5), for “subsection (3)” substitute “subsections (3) to (3D)”.
(4) For subsection (7) substitute—
“(7) “Deposit taker” means—
(a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits; or
(b) an EEA firm of the kind mentioned in paragraph 5(b) or (c) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits or other repayable funds.
(7A) “Debt security” means any instrument creating or acknowledging indebtedness (including a government or public security).
(7B) Subsections (7) and (7A) must be read with—
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that section; and
(c) Schedule 2 to that Act.
(7C) “Financial holding company” has the meaning given by Article 1(21) of Council Directive 2000/12/EC of the European Parliament and the Council.
(7D) “Undertaking” has the meaning given by section 259 of the Companies Act 1985.”.

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Source: https://www.legislation.gov.uk/uksi/2001/3649/article/161 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-161
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.