UK Act of Parliament
1987
United Kingdom
Banking Act 1987
At a glance
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
Browse 85 other Schedules — structural / supplementary
An independent member may be removed by the Authority with...
(1) The Treasury may, after consultation with the Authority, by...
(1) The quorum for a meeting of the Board shall...
The Authority shall make such provision as it thinks necessary...
The central bank of a member State other than the...
A credit union within the meaning of the Credit Unions...
A body of persons certified as a school bank by...
A local authority.
Any other body which by virtue of any enactment has...
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The European Atomic Energy Community.
The European Coal and Steel Community.
The European Economic Community.
The European Investment Bank.
The International Bank for Reconstruction and Development.
The National Savings Bank.
The International Finance Corporation.
The International Monetary Fund.
The African Development Bank.
The Asian Development Bank.
The Caribbean Development Bank.
The Inter-American Development Bank.
The European Bank for Reconstruction and Development.
A penny savings bank.
A municipal bank.
A building society incorporated (or deemed to be incorporated) under...
(1) A friendly society within the meaning of section 7(1)(a)...
A society registered under either of the Acts mentioned in...
(1) Any institution which is for the time being authorised...
A loan society whose rules are certified, deposited and enrolled...
(1) Every person who is, or is to be, a...
At least two individuals effectively direct the business of the...
In the case of an institution incorporated in the United...
(1) The institution conducts, or, in the case of an...
The business of the institution is or, in the case...
(1) The institution will at the time when authorisation is...
(1) The Board shall consist of three ex officio members,...
The Board may pay to its members such allowances in...
(1) The Board shall determine its own procedure, including the...
(1) The fixing of the common seal of the Board...
(1) The Board may determine its own financial year.
If this Act comes into force in the course of...
For the purposes of section 56(3) of this Act there...
This Act does not affect the operation of sections 28...
Any sum borrowed by virtue of section 26(3) of the...
(1) Subject to sub-paragraph (2) below, section 67 of this...
In section 82(1) of this Act the reference to information...
(1) Any institution (within the meaning of this Act) which...
(1) Any conditional licence in force under the former Act...
(1) Where an application for recognition or a licence under...
(1) Where the Bank has given an institution a notice...
(1) The repeal of the former Act shall not affect...
(1) The repeal of the former Act shall not affect...
Any person who is an ordinary member or alternate member...
(1) On or as soon as possible after the coming...
(1) For subsection (1)(a) of section 9 of the Bankers’...
In the definition of “bank” in section 67(4) of the...
In section 40(6) of the Supreme Court Act 1981 for...
In Schedule 10 to the Housing (Northern Ireland) Order 1981...
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In section 6 of the Duchy of Cornwall Management Act...
In the definition of “deposit-taking institution” in section 147(1) of...
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(1) In section 209(5)(a)(i) of the Companies Act 1985 for...
In paragraph 11 of Schedule 1 to the Trustee Savings...
(1) In the definition of “Bank” in section 5(7) of...
In section 73(1) of the Bankruptcy (Scotland) Act 1985 for...
In the definition of “bank” in section 622 of the...
In the definition of “ bank ” in section 106(1)...
(1) In the definition of “authorised bank” in Article 2(2)...
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(1) For paragraph (b) of section 8(4) of the Insolvency...
(1) In section 18(17) of the Building Societies Act 1986...
(1) In section 75(6)(e) of the Financial Services Act 1986...
(1) In Article 2(3) of the Companies (Northern Ireland) Order...
(1) In the definition of “Bank” in section 9(2) of...
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In paragraph (a) of the definition of “bank” in section...
In paragraph 7 of Part I of the Schedule to...
(1) In section 8 of the Credit Unions Act 1979...
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In section 35(2) of the Solicitors (Scotland) Act 1980 for...
Browse 112 other sections — procedural / definitional / commencement
Functions and duties of the Bank of England.
The Board of Banking Supervision.
Restriction on acceptance of deposits.
Exempted persons and exempted transactions.
Meaning of “deposit”.
Meaning of “deposit-taking business”.
Power to amend definitions.
Applications for authorisation.
Grant and refusal of authorisation.
Notice of grant or refusal.
Revocation of authorisation.
Restriction of authorisation.
Revocation or restriction on information from supervisory authority.
Notice of revocation or restriction.
Mandatory revocation and restriction in cases of urgency.
Surrender of authorisation.
Statement of principles.
Information as to authorised institutions.
False statements as to authorised status.
Directions to institutions.
Notification and confirmation of directions.
Notification of new or increased control.
Objection to new or increased control.
Objection by direction of the Treasury.
Objection to existing shareholder controller.
Contraventions by controller.
Restrictions on and sale of shares.
Rights of appeal.
Constitution of tribunals.
Determination of appeals.
Costs, procedure and evidence.
Further appeals on points of law.
Advertisement regulations.
Advertisement directions.
Unsolicited calls.
Fraudulent inducement to make a deposit.
Notification of change of director, controller or manager.
Notification of acquisition of significant shareholding.
Reports of large exposures.
Power to obtain information and require production of documents.
Right of entry to obtain information and documents.
Investigations on behalf of the Authority.
Investigation of suspected contraventions.
Powers of entry in cases of suspected contraventions.
Obstruction of investigations.
Audited accounts to be open to inspection.
Notification in respect of auditors.
Communication by auditor
Repayment of unauthorised deposits.
Profits from unauthorised deposits.
The Deposit Protection Board.
The Deposit Protection Fund.
Contributory institutions and general provisions as to contributions.
Initial contributions.
Further contributions.
Special contributions.
Maximum and minimum contributions.
Deposit base of transferee institutions.
Compensation payments to depositors.
Meaning of insolvency etc.
Protected deposits.
Trustee deposits, joint deposits etc.
Liability of institution in respect of compensation payments.
Repayments in respect of contributions.
Borrowing powers.
Power to obtain information.
Tax treatment of contributions and repayments.
Restriction on use of banking names.
Exemptions from s. 67.
Restriction on use of banking descriptions.
Power to object to institution’s names.
Effect of notices under s. 70 and appeals.
Registration of substitute corporate name by oversea company.
Offences under Part III.
Meaning of “overseas institution” and “representative office”.
Notice of establishment of representative office.
Power to object to names of overseas institutions.
Effect of notices under s. 76 and appeals.
Registration of substitute corporate name by overseas institution.
Duty to provide information and documents.
Regulations imposing requirements on overseas-based banks.
Offences under Part IV.
Restricted information.
Disclosure for facilitating discharge of functions by the Bank.
Obstruction of investigations.
Objection by direction of the Treasury.
Information supplied to Bank by relevant overseas authority etc.
Notification of acquisition of significant shareholding.
Exclusion of authorised institution’s agreements from Consumer Credit Act 1974.
Electronic transfer of funds.
Disclosure of transactions by authorised institutions with chief executives and managers.
Powers for securing reciprocal facilities for banking and other financial business.1986 c. 60.
Winding up on petition from the Authority.
Injunctions.
False and misleading information.
Restriction of Rehabilitation of Offenders Act 1974.
Offences.
Summary proceedings.
Offences committed by unincorporated associations.
Service of notices on the Authority.
Service of other notices.
Evidence.
Powers for securing reciprocal facilities for banking and other financial business.
Municipal banks.
Scottish 1819 savings banks.
Meaning of “director”, “controller”, “manager”, and “associate”.
Meaning of related company.
Interpretation.
Transitional provisions.
Minor and consequential amendments, repeals and revocations.
Northern Ireland.
Short title and commencement.
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
PRA
PrimaryPrudential Regulation Authority
Part of the Bank of England. Prudentially regulates and supervises around 1,292 banks, building societies, credit unions, insurers, and major investment firms. …
Sports Grounds Safety Authority
Regulates safety at sports grounds in England and Wales. Issues safety certificates for designated grounds. Advises local authorities on spectator safety at …
Connected legislation
1 statutory instrument
These instruments amend, apply, or refer to this Act. They may not all create direct business obligations.
Secondary legislation (1)
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