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The Financial Services (Banking Reform) Act 2013 (Commencement No. 9) Order 2015

S.I. 2015/490 · Made 4 March 2015 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 16 December 2015.

Banks And Banking

Made 4th March 2015

The Treasury make the following Order in exercise of the powers conferred by section 148(5) of the Financial Services (Banking Reform) Act 2013f1.

Annotations to the whole text

Footnotes

f1

2013 c. 33.

Contents

  1. 1Citation and interpretation
  2. 2Appointed day for the coming into force of certain provisions of the Act
  3. Signature
  4. Explanatory note

1Citation and interpretationI1

(1)

This Order may be cited as the Financial Services (Banking Reform) Act 2013 (Commencement No. 9) Order 2015.

(2)

In this Order—

  • “the Act” means the Financial Services (Banking Reform) Act 2013;

  • “FSMA” means the Financial Services and Markets Act 2000f1.

2Appointed day for the coming into force of certain provisions of the ActI1

(1)

7th March 2016 is the day appointed for the coming into force of the following provisions of the Act—

(a)

section 29 for the purpose of inserting section 63F into FSMA;

(b)

sections 18, 20, F130(1) and (2), 31, 35 and Schedule 3 so far as those provisions are not already in force; F2...

(c)

sections 21 to 26, F332(1), 34 and 36 to 38 for all purposes F4; and

(d)

section 30(3) for the purpose of inserting sections 64A and 64B(1) to (4), (6) and (7) into FSMA so far as those provisions are not already in force; and

(e)

section 32(2) for the purpose of inserting the following provisions into FSMA—

(i)

subsection (1) of section 66A so far as that subsection applies to Conditions A and B;

(ii)

subsections (2) to (4), (8) and (9) of section 66A;

(iii)

subsection (1) of section 66B so far as that subsection applies to Conditions A and B; and

(iv)

subsections (2) to (4), (8) and (9) of section 66B.

(2)

7th March 2017 is the day appointed for the coming into force of section 29 of the Act so far as that section is not already in force.

Signature

Mark Lancaster

Harriett Baldwin

Two of the Lords Commissioners of Her Majesty’s Treasury

4th March 2015

Explanatory note

(This note is not part of the Order)

This Order brings into force the provisions of the Financial Services (Banking Reform) Act 2013 (c. 33) (“the Act”) relating to the regulation of persons performing functions in relation to financial services firms.

This Order will have no effect on the costs of business and the voluntary sector independent of the provisions this Order brings into force. For that reason, no impact assessment has been produced for this instrument.