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The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) (No. 2) Order 2016

S.I. 2016/1023 · Made 21 October 2016

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Financial Services And Markets

Made 21st October 2016

Laid before Parliament 24th October 2016

Coming into force 21st November 2016

The Treasury, in exercise of the powers conferred by section 145 of the Financial Services (Banking Reform) Act 2013f1, make the following Order:

Annotations to the whole text

Footnotes

f1

2013 c. 33.

Contents

  1. 1Citation and commencement
  2. 2Amendments to the Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013
  3. 3Amendments to the Financial Services and Markets Act 2000 (Qualifying EU Provisions) (No. 2) Order 2013
  4. Signature
  5. Explanatory note

1Citation and commencement

This Order may be cited as the Financial Services (Banking Reform) Act 2013 (Consequential Amendments) (No. 2) Order 2016 and comes into force on 21st November 2016.

2Amendments to the Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013

In the Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013f1, in article 2 (qualifying EU provisions: general)—

(a)

in paragraph (1) for “66(2)(b)” substitute “66A(4)(b)”;

(b)

in paragraph (5) for “66(2A)(b)” substitute “66B(4)(b)”;

(c)

in paragraph (9) for “66(2A)” substitute “66B(4)(b)”; and

(d)

in paragraph (10) for “66A(4)” substitute “66A(4)(b)”.

3Amendments to the Financial Services and Markets Act 2000 (Qualifying EU Provisions) (No. 2) Order 2013

In the Financial Services and Markets Act 2000 (Qualifying EU Provisions) (No. 2) Order 2013f1—

(a)

in article 2(a) (qualifying EU provisions: credit ratings agencies regulation) for “66(2)(b)(ii)” substitute “66A(4)(b)”; and

(b)

in article 3(a) (qualifying EU provisions: capital requirements instruments) for “66(2)(b)(ii), 66(2A)(b)(ii)” substitute “66A(4)(b), 66B(4)(b)”.

Signature

Guy Opperman

David Evennett

Two of the Lords Commissioners of Her Majesty’s Treasury

21st October 2016

Explanatory note

(This note is not part of the Order)

This Order makes amendments to secondary legislation in consequence of the amendments made to section 66 (disciplinary powers) of the Financial Services and Markets Act 2000 (c. 8) and the insertion of new sections 66A (misconduct: action by the FCA) and 66B (misconduct: action by the PRA) in that Act by the Financial Services (Banking Reform) Act 2013 (c. 33).

This Order will have no effect on the costs of business or voluntary sector. For that reason, no impact assessment has been produced for this instrument.