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The Financial Services Act 2012 (Commencement No. 4) Order 2014

S.I. 2014/1447 · Made 4 June 2014

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 4th June 2014

The Treasury makes the following Order in exercise of the powers conferred by section 122(3) and (4) of the Financial Services Act 2012f1.

Annotations to the whole text

Footnotes

f1

2012 c.21.

Contents

  1. 1Citation and interpretation
  2. 2Provisions of the Financial Services Act 2012 coming into force on 5th June 2014
  3. Signature
  4. Explanatory note

1Citation and interpretation

(1)

This Order may be cited as the Financial Services Act 2012 (Commencement No. 4) Order 2014.

(2)

In this Order—

  • “the Act” means the Banking Act 2009f1; and

  • “group companies” means banking group companies within the meaning given by section 81D of the Actf2.

2Provisions of the Financial Services Act 2012 coming into force on 5th June 2014

5th June 2014 is the appointed day for the coming into force of the following provisions of the Financial Services Act 2012 for the purpose of making orders or regulations—

(a)

section 100(1);

(b)

section 100(5) so far as it inserts—

(i)

section 81C(2) of the Act, but only for the purpose of enabling the power conferred by section 47 of the Act to be exercised in relation to group companies;

(ii)

section 81D of the Act;

(c)

section 100(6) and (7);

(d)

section 101(1);

(e)

section 101(5) so far as it inserts section 89A(1) of the Act, but only for the purpose of enabling the powers conferred by sections 47, 60 and 81D(1) of the Act to be exercised in relation to—

(i)

investment firms;

(ii)

companies in the same group as an investment firm which are group companies;

(f)

section 101(7), (8) and (9);

(g)

section 102(1); and

(h)

section 102(6) so far as it inserts—

(i)

section 89B(1) of the Actf1, but only for the purpose of enabling the powers conferred by sections 47, 48 and 81D(1) of the Act to be exercised in relation to—

(aa)

recognised central counterparties;

(bb)

companies in the same group as a recognised central counterparty which are group companies;

(ii)

section 89G of the Actf2.

Signature

David Evennett

Anne Milton

Two of the Lords Commissioners of Her Majesty’s Treasury

4th June 2014

Explanatory note

(This note is not part of the Order)

This Order brings into force sections 100, 101 and 102 of the Financial Services Act 2012 (c.21) (“the Act”) on 5th June 2014 for the purposes of making orders or regulations. This is the fourth commencement order to be made under the Act.

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