| Guvnor

Enforced by: FCA, PRA, PSR
Status: Amended (in force with amendments)
Penalty ceiling: Imprisonment 2 of 45 obligations carry an unlimited fine. 3 carry different penalties and 40 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person7 Director or Officer2 Trader2 Applicant2 Responsible Person1

Plus 31 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts

Human Medicines Regulations 2012 184 duties

Merchant Shipping Act 1995 144 duties

Insolvency (England and Wales) Rules 2016 104 duties

Communications Act 2003 92 duties

Road Traffic Act 1988 92 duties

Director or Officer — also bound by 429 other Acts

Insolvency (England and Wales) Rules 2016 162 duties

Companies Act 2006 126 duties

Insolvency Act 1986 77 duties

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 68 duties

Building Societies Act 1986 32 duties

Trader — also bound by 825 other Acts

Value Added Tax Regulations 1995 416 duties

Companies Act 2006 243 duties

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 133 duties

Companies Act 1985 85 duties

Insolvency (England and Wales) Rules 2016 62 duties

Applicant — also bound by 307 other Acts

Insolvency (England and Wales) Rules 2016 46 duties

Human Medicines Regulations 2012 42 duties

The Land Registration Rules 2003 25 duties

Regulation (EU) No 1178/2011 (Aircrew) 20 duties

Value Added Tax Regulations 1995 18 duties

Responsible Person — also bound by 108 other Acts

MH(CT)(S)A 2003 30 duties

Climate Change Levy (General) Regulations 2001 24 duties

Offshore Installations (Offshore Safety Directive) (Safety Case ) Regulations 2015 21 duties

The Offshore Installations (Prevention of Fire and Explosion, and Emergency Response) Regulations 1995 21 duties

The Offshore Installations (Safety Case) Regulations 2005 19 duties

What it requires

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

Ring-fencing

5 of 12 sections shown

s.004 Ring-fencing of certain activities Prosecution

Breach of banking ring-fencing requirementsAny Person

Unlimited fine

s.008 Independent review of operation of legislation relating to ring-fencing Regulated

Other duties (1) — Crown / regulator

HM Treasury must appoint an independent panel to review ring-fencing lawsCrown / Minister / Government department

s.009 PRA review of proprietary trading Regulated

Other duties (1) — Crown / regulator

PRA must review and report on bank proprietary trading risksStatutory regulator

s.010 Independent review of proprietary trading Regulated

Other duties (1) — Crown / regulator

The Treasury must appoint an independent panel to review proprietary tradingCrown / Minister / Government department

s.012 Right to obtain documents and information Regulated

Provide documents and information to a review panelAny Person

7 other sections in this Part — procedural and definitional

s.001 Objectives of Prudential Regulation Authority

s.002 Modification of objectives of Financial Conduct Authority

s.003 Amendment of PRA power of direction

s.005 PRA annual report

s.006 Ring-fencing transfer schemes

s.007 Building societies: power to make provision about ring-fencing

s.011 Reviews of proprietary trading: interpretation

Part 2

Depositor preference and the Financial Services Compensation Scheme

0 of 4 sections shown

4 other sections in this Part — procedural and definitional

s.013 Preferential debts: Great Britain

s.014 Discharge of functions by the scheme manager

s.015 Power to require information from scheme manager

s.016 Scheme manager: appointment of accounting officer

Part 3

Bail-in stabilisation option

0 of 1 section shown

1 other section in this Part — procedural and definitional

s.017 Bail-in stabilisation option

Part 4

Conduct of persons working in financial services sector

3 of 21 sections shown

s.026 Variation of approval Regulated

Apply to change or remove conditions on your senior manager approvalAny Person

s.036 Offence relating to a decision causing a financial institution to fail Imprisonment

Cause a financial institution to fail through reckless decision-makingAny Person

s.038 Institution of proceedings Regulated

Other duties (1) — Crown / regulator

Regulators and Treasury must follow specific rules when starting prosecutionsStatutory regulator

18 other sections in this Part — procedural and definitional

s.018 Functions for which approval is required

s.019 Senior management functions

s.020 Statements of responsibilities

s.021 Vetting by relevant authorised persons of candidates for approval

s.022 Determination of applications for approval

s.023 Power to give approval subject to conditions or for limited period

s.024 Changes in responsibilities of senior managers

s.025 Duty to notify regulator of grounds for withdrawal of approval

s.027 Statement of policy

s.028 Extension of limitation periods for imposing sanctions

s.029 Certification of employees by relevant authorised persons

s.030 Rules of conduct

s.031 Requirement to notify regulator of disciplinary action

s.032 Definition of “misconduct”

s.033 Meaning of “relevant authorised person”

s.034 Recording information about senior managers

s.035 Consequential amendments relating to Part 4

s.037 Section 36: interpretation

Part 5

Regulation of payment systems

38 of 88 sections shown

s.044 Designation criteria Regulated

Other duties (1) — Crown / regulator

The Treasury must follow specific criteria when designating a payment systemCrown / Minister / Government department

s.045 Procedure Regulated

Other duties (1) — Crown / regulator

HM Treasury must consult and notify before designating a payment systemCrown / Minister / Government department

s.046 Amendment of designation order Regulated

Other duties (1) — Crown / regulator

The Treasury must consult and notify before amending payment system ordersCrown / Minister / Government department

s.047 Revocation of designation orders Regulated

Other duties (1) — Crown / regulator

HM Treasury must follow specific steps to revoke a payment system designationCrown / Minister / Government department

s.048 Publication Regulated

Other duties (1) — Crown / regulator

The Treasury must publish payment system designation ordersCrown / Minister / Government department

s.049 Regulator's general duties in relation to payment systems Regulated

Other duties (1) — Crown / regulator

PSR must promote competition, innovation, and user interests in payment systemsStatutory regulator

s.060 Restrictions on exercise of functions under Part 4 of the Enterprise Act 2002 Regulated

Other duties (1) — Crown / regulator

Regulators must consult and coordinate on payment system oversightStatutory regulator

s.063 Provision of information and assistance to a CMA group Regulated

Other duties (1) — Crown / regulator

Payment Systems Regulator must assist CMA with market investigationsStatutory regulator

s.070 Complaints: guidance Regulated

Other duties (1) — Crown / regulator

Payment Systems Regulator must provide guidance on making complaintsStatutory regulator

s.074 Warning notices Regulated

Other duties (1) — Crown / regulator

PSR must issue a warning notice before imposing sanctionsStatutory regulator

s.084 Investigations: general Regulated

Other duties (1) — Crown / regulator

Payment Systems Regulator must notify businesses of investigationsStatutory regulator

s.090 Enforcement of information and investigation powers Imprisonment

Interfere with financial investigations or provide false infoDirector or Officer

s.093 Offences relating to disclosure of confidential information Imprisonment

Unlawfully disclosing or using confidential financial informationAny Person

s.097 Treasury approval Regulated

Other duties (1) — Crown / regulator

Treasury must approve or reject PSR standards instruments within four weeksCrown / Minister / Government department

s.099 Memorandum of understanding Regulated

Other duties (1) — Crown / regulator

Financial regulators must maintain and publish a cooperation agreementStatutory regulator

s.100 Power of Bank to require Regulator to refrain from specified action

amended 2 times (opens in a new tab)

s.101 Power of FCA to require Regulator to refrain from specified action

amended 3 times (opens in a new tab)

s.102 Power of PRA to require Regulator to refrain from specified action

amended 2 times (opens in a new tab)

s.102 Recommendations by Treasury in connection with general duties

amended 2 times

s.102 Matters to consider when imposing generally applicable requirements

amended 2 times

s.103 Regulator's general duty to consult

amended 2 times (opens in a new tab)

s.104 Consultation in relation to generally applicable requirements

amended 8 times (opens in a new tab)

s.104 Requirements in connection with public consultations

amended 8 times

s.104 Duty of Regulator to review generally applicable requirements Regulated

Other duties (1) — Crown / regulator

PSR must regularly review its requirementsStatutory regulator

amended 8 times

s.104 Statement of policy relating to review of requirements Regulated

Other duties (1) — Crown / regulator

PSR must publish policy on how it reviews payment system requirementsStatutory regulator

amended 8 times

s.104 Requirement to review specified requirements

amended 8 times

s.104 Report on certain reviews Regulated

Other duties (1) — Crown / regulator

Payment Systems Regulator must report to the Treasury on requirement reviewsStatutory regulator

amended 8 times

s.104 Power of Treasury to require the imposition of generally applicable requirements

amended 8 times

s.104 Consultation with the FCA Cost Benefit Analysis Panel

amended 8 times

s.104 Statement of policy in relation to cost benefit analyses

amended 8 times

s.104 Statement of policy on panel appointments Regulated

Other duties (1) — Crown / regulator

Payment Systems Regulator must publish policy on panel appointmentsStatutory regulator

amended 8 times

s.105 Independent inquiries

amended 1 time (opens in a new tab)

s.106 Investigations into regulatory failure

amended 1 time (opens in a new tab)

s.107 Competition scrutiny

amended 1 time (opens in a new tab)

s.107 International trade obligations Regulated

Other duties (1) — Crown / regulator

PSR must notify Treasury of risks to international trade obligationsStatutory regulator

amended 1 time

s.108 Relationship with Part 8 of the Payment Services Regulations 2017

amended 6 times (opens in a new tab)

s.109 Exemption from liability in damages for FCA and PRA

amended 1 time (opens in a new tab)

s.110 Interpretation of Part

amended 5 times (opens in a new tab)

50 other sections in this Part — procedural and definitional

s.039 Overview

s.040 The Payment Systems Regulator

s.041 Meaning of “payment system”

s.042 Participants in payment systems etc

s.043 Designation orders

s.050 The competition objective

s.051 The innovation objective

s.052 The service-user objective

s.053 Regulatory principles

s.054 Directions

s.055 System rules

s.056 Power to require granting of access to payment systems

s.057 Variation of agreements relating to payment systems

s.058 Power to require disposal of interest in payment system

s.059 The Regulator's functions under Part 4 of the Enterprise Act 2002

s.061 The Regulator's functions under the Competition Act 1998

s.062 Duty to consider exercise of powers under Competition Act 1998

s.064 Function of keeping markets under review

s.065 Exclusion of general duties

s.066 Concurrent competition powers: supplementary provision

s.067 Amendments relating to Regulator's competition powers

s.068 Complaints by representative bodies

s.069 Response by Regulator

s.071 Meaning of “compliance failure”

s.072 Publication of compliance failures etc

s.073 Penalties

s.075 Injunctions

s.076 Appeals: general

s.077 Appeals to Competition Appeal Tribunal

s.078 Appeals in relation to penalties

s.079 Appeals to Competition and Markets Authority

s.080 Enforcement of requirement to dispose of interest in payment system

s.081 Power to obtain information or documents

s.082 Reports by skilled persons

s.083 Appointment of persons to conduct investigations

s.085 Powers of persons appointed under section 83

s.086 Information and documents: supplemental provisions

s.087 Admissibility of statements made to investigators

s.088 Entry of premises under warrant

s.089 Retention of documents taken under section 88

s.091 Restrictions on disclosure of confidential information

s.092 Exemptions from section 91

s.094 Information received from Bank of England

s.095 Disclosure of information by Bank to Regulator

s.096 Guidance

s.097 Reports

s.097 Technical standards

s.097 Standards instruments

s.097 Application of section 104 of this Act and Part 9A of the Financial Services and Markets Act 2000

s.098 Duty of regulators to ensure co-ordinated exercise of functions

Part 6

Special administration for operators of certain infrastructure systems

18 of 19 sections shown

s.111 Financial market and cash infrastructure administration

amended 3 times (opens in a new tab)

s.112 Interpretation: infrastructure companies

amended 13 times (opens in a new tab)

s.113 Interpretation: other expressions

amended 9 times (opens in a new tab)

s.114 FMI administration orders

amended 1 time (opens in a new tab)

s.115 Objective of FMI administration Regulated

FMI administrator must ensure continuity and efficiency of financial systemsDirector or Officer

amended 12 times (opens in a new tab)

s.116 Application for FMI administration order Regulated

Other duties (1) — Crown / regulator

Bank of England must notify infrastructure companies of administration applicationsStatutory regulator

amended 1 time (opens in a new tab)

s.117 Powers of court

amended 1 time (opens in a new tab)

s.118 FMI administrators

amended 1 time (opens in a new tab)

s.119 Continuity of supply

amended 2 times (opens in a new tab)

s.120 Power to direct FMI administrator

amended 3 times (opens in a new tab)

s.121 Conduct of administration, transfer schemes etc.

amended 5 times (opens in a new tab)

s.122 Restriction on winding-up orders and voluntary winding up Regulated

Follow strict procedure for winding up an infrastructure companyTrader

amended 1 time (opens in a new tab)

s.123 Restriction on making of ordinary administration orders

amended 1 time (opens in a new tab)

s.124 Restriction on enforcement of security Regulated

Notify the Bank of England before enforcing security against an infrastructure firmAny Person

amended 1 time (opens in a new tab)

s.124 Powers of Bank to participate in Part 26A proceedings Regulated

Notify Bank of England before restructuring an infrastructure companyApplicant

amended 1 time

s.125 Loans

amended 1 time (opens in a new tab)

s.126 Indemnities

amended 1 time (opens in a new tab)

s.127 Interpretation of Part

amended 3 times (opens in a new tab)

1 other section in this Part — procedural and definitional

s.128 Northern Ireland

Part 7

Miscellaneous

12 of 13 sections shown

s.129 Functions of FCA under competition legislation

amended 2 times (opens in a new tab)

s.130 Competition as a secondary objective of the PRA

amended 1 time (opens in a new tab)

s.131 Duty of FCA to make rules restricting charges for high-cost short-term credit Regulated

Other duties (1) — Crown / regulator

FCA must introduce price caps on payday loans and short-term creditStatutory regulator

s.132 Role of FCA Consumer Panel in relation to PRA

amended 1 time (opens in a new tab)

s.133 Power of FCA and PRA to make rules applying to parent undertakings

amended 5 times (opens in a new tab)

s.134 Duty to meet auditors of certain institutions

amended 1 time (opens in a new tab)

s.135 Fees to meet Treasury expenditure relating to international organisations Regulated

Pay regulatory fees for international financial stability costsResponsible Person

amended 1 time (opens in a new tab)

s.136 Amendments of section 429 of FSMA 2000

amended 2 times (opens in a new tab)

s.137 Accounts of Bank of England and its wholly-owned subsidiaries

amended 1 time (opens in a new tab)

s.139 Power to impose penalties on persons providing claims management services

amended 2 times (opens in a new tab)

s.140 Recovery of expenditure incurred by Office for Legal Complaints

amended 1 time (opens in a new tab)

s.141 Minor amendments

amended 2 times (opens in a new tab)

1 other section in this Part — procedural and definitional

s.138 Building societies

Part 8

Final provisions

2 of 7 sections shown

s.143 Orders and regulations: Parliamentary control

amended 3 times (opens in a new tab)

s.147 Extent

amended 2 times (opens in a new tab)

5 other sections in this Part — procedural and definitional

s.142 Orders and regulations: general

s.144 Interpretation

s.145 Power to make further consequential amendments

s.146 Transitional provisions and savings

s.148 Commencement and short title

Schedules

10 of 168 shown

s.sch002 After section 80 insert— Transfer for bail-in purposes: report (1) This section applies where the Bank of England makes... Regulated

Other duties (1) — Crown / regulator

Bank of England must report to Chancellor on bail-in resolution upon Treasury requestStatutory regulator

s.sch002 (1) After section 41 insert— Transfer of property subsequent to... Regulated

Other duties (1) — Crown / regulator

Bank of England must consult PRA, FCA and Treasury before making transfer instrumentsStatutory regulator

s.sch004 (1) The Regulator must prepare and operate a scheme (“the... Regulated

Other duties (1) — Crown / regulator

Regulator must run a financial penalty scheme for payment system participantsStatutory regulator

s.sch005 (1) A person who wilfully alters, suppresses or destroys a... Prosecution

Wilfully alter, suppress or destroy a required documentAny Person

Unlimited fine

s.sch005 (1) A determination by the CMA on an appeal— Regulated

Other duties (1) — Crown / regulator

CMA must notify, publish and give reasons for appeal determinationsStatutory regulator

s.sch005 (1) A group that determines an appeal must make an... Regulated

Other duties (1) — Crown / regulator

CMA group must order payment of costs after deciding an appealStatutory regulator

s.sch005 (1) An application for permission to bring an appeal may... Regulated

Submit a proper application for permission to appeal a PSR decisionApplicant

s.sch005 (1) The CMA must determine an appeal within the period... Regulated

Other duties (1) — Crown / regulator

CMA must determine payment system appeals within 6 months (7 months with special reasons)Statutory regulator

s.sch007 (1) The old company may— (a) with the consent of... Regulated

Provide information and assistance to the Bank of England for FMI transfer schemesTrader

s.sch010 In section 73 of the Financial Services Act 2012 (duty... Regulated

Other duties (1) — Crown / regulator

FCA must investigate regulatory failures in regulated activities and exchangesStatutory regulator

158 other schedules

s.sch001 Ring-fencing transfer schemes

s.sch001 Part 7 of FSMA 2000 (control of business transfer schemes)...

s.sch001 (1) Section 111 (sanction of court for business transfer schemes)...

s.sch001 In section 112 (effect of order sanctioning business transfer scheme),...

s.sch001 In section 112A (rights to terminate etc.), in subsection (1),...

s.sch001 In Schedule 12 (transfer schemes: certificates) after Part 2A insert—...

s.sch001 For “the authorised person concerned”, wherever occurring in Part 7...

s.sch001 (1) Section 103A (meaning of “the appropriate regulator”) is amended...

s.sch001 In section 106 (banking business transfer schemes), at the end...

s.sch001 After section 106A insert— Ring-fencing transfer scheme (1) A scheme is a ring-fencing transfer scheme if it—...

s.sch001 (1) Section 107 (application for order sanctioning transfer scheme) is...

s.sch001 For the heading to section 109 substitute “ Scheme reports:...

s.sch001 After section 109 insert— Scheme reports: ring-fencing transfer schemes (1) An application under section 106B in respect of a...

s.sch001 (1) Section 110 (right to participate in proceedings) is amended...

s.sch002 Bail-in stabilisation option

s.sch002 The Banking Act 2009 is amended as follows.

s.sch002 In section 120 (notice to Prudential Regulation Authority of preliminary...

s.sch002 After section 256 insert— State aid State aid (1) This section applies where— (a) the Treasury are of...

s.sch002 (1) Section 1 (overview) is amended as follows.

s.sch002 In section 13 (temporary public ownership), in subsection (1), for...

s.sch002 In section 17 (share transfers: effect)— (a) in subsection (1),...

s.sch002 In section 18 (share transfers: continuity), after subsection (5) insert—...

s.sch002 In section 44 (reverse property transfer)— (a) in subsection (2),...

s.sch002 In section 63 (general continuity obligation: property transfers), in subsection...

s.sch002 In section 66 (general continuity obligation: share transfers)—

s.sch002 In section 67 (special continuity obligation: share transfers), in subsection...

s.sch002 After section 12 insert— Bail-in option (1) The third stabilisation option is exercised by the use...

s.sch002 In section 68 (continuity obligations: onward share transfers), in subsection...

s.sch002 In section 71 (pensions), in subsection (1)—

s.sch002 In section 72 (enforcement), in subsection (1)—

s.sch002 In section 73 (disputes), in subsection (1)—

s.sch002 In section 74 (tax), in subsection (6), for “or 45”...

s.sch002 In section 81A (accounting information to be included in reports...

s.sch002 In section 85 (temporary public ownership), in subsection (1), for...

s.sch002 In section 136 (overview), in the Table in subsection (3),...

s.sch002 After section 152 insert— Property transfer from transferred institution (1) This section applies where the Bank of England—

s.sch002 After section 8 insert— Specific condition: bail-in (1) The Bank of England may exercise a stabilisation power...

s.sch002 In section 220 (insolvency etc), after subsection (4) insert—

s.sch002 In section 259 (statutory instruments)— (a) in the Table in...

s.sch002 In section 261 (index of defined terms), in the Table,...

s.sch002 (1) This paragraph modifies the application of the Investment Bank...

s.sch002 After section 48A insert— Bail-in option Special bail-in provision (1) “Special bail-in provision”, in relation to a bank, means...

s.sch002 (1) In section 49 (orders)— (a) in subsection (1), for...

s.sch002 (1) After section 81B insert— Bail-in option (1) The Bank of England may exercise a stabilisation power...

s.sch002 In section 83A (modifications of Part 1 as it applies...

s.sch002 In section 89B (application of Part 1 of the Act...

s.sch003 Consequential amendments relating to Part 4

s.sch003 (1) Section 59 of FSMA 2000 (approval for particular arrangements)...

s.sch003 In section 140A of FSMA 2000 (interpretation), in the definition...

s.sch003 In section 347 of FSMA 2000 (the record of authorised...

s.sch003 In section 387 of FSMA 2000 (warning notices), in subsection...

s.sch003 In section 388 of FSMA 2000 (decision notices), in subsection...

s.sch003 In section 395 of FSMA 2000 (supervisory notices), in subsection...

s.sch003 (1) Section 415B of FSMA 2000 (consultation in relation to...

s.sch003 In Schedule 1ZA to FSMA 2000 (the Financial Conduct Authority),...

s.sch003 In section 14 of the Financial Services Act 2012, omit...

s.sch003 (1) Section 85 of the Financial Services Act 2012 (relevant...

s.sch003 (1) Section 59A of FSMA 2000 (specifying functions as controlled...

s.sch003 (1) Section 63 of FSMA 2000 (withdrawal of approval) is...

s.sch003 In section 63A of FSMA 2000 (power to impose penalties),...

s.sch003 (1) Section 66 of FSMA 2000 (disciplinary powers) is amended...

s.sch003 (1) Section 67 of FSMA 2000 (disciplinary measures: procedure and...

s.sch003 In section 69 of FSMA 2000 (statement of policy), in...

s.sch003 In section 138A of FSMA 2000 (modification or waiver of...

s.sch003 In section 138D of FSMA 2000 (actions for damages), in...

s.sch004 The Payment Systems Regulator

s.sch004 In this Schedule— (a) “the Regulator” means the Payment Systems...

s.sch004 (1) The Regulator must in respect of each of its...

s.sch004 (1) The scheme details must be published by the Regulator...

s.sch004 The Regulator must maintain satisfactory arrangements for—

s.sch004 (1) None of the following is to be liable in...

s.sch004 (1) This paragraph applies where the Regulator issues a relevant...

s.sch004 (1) This paragraph applies where— (a) the Regulator issues a...

s.sch004 In Part 6 of Schedule 1 to the Freedom of...

s.sch004 In Part 1 of Schedule 19 to the Equality Act...

s.sch004 (1) The constitution of the Regulator must provide for it...

s.sch004 (1) The Regulator is not to be regarded as exercising...

s.sch004 (1) The Regulator must adopt an annual budget which has...

s.sch004 (1) The Regulator may make arrangements for any of its...

s.sch004 (1) The Regulator must in respect of each of its...

s.sch004 (1) At least once a year, the Regulator must make...

s.sch004 (1) The Treasury may (subject to this paragraph) at any...

s.sch004 (1) The Regulator must send a copy of its annual...

s.sch004 (1) For the purposes mentioned in sub-paragraph (2) the FCA...

s.sch004 (1) For the purposes mentioned in sub-paragraph (2), the Regulator...

s.sch005 Procedure for appeals to the CMA

s.sch005 Except where specified otherwise in this Schedule, the functions of...

s.sch005 (1) For the purposes of this Schedule an oral hearing...

s.sch005 (1) The CMA may by notice require a person to...

s.sch005 Where permission to bring an appeal is granted under paragraph...

s.sch005 (1) If a person (“the defaulter”)— (a) fails to comply...

s.sch005 (1) The CMA Board may make rules of procedure regulating...

s.sch005 (1) In this Schedule— “appeal” means an appeal made in...

s.sch005 (1) Schedule 4 to the Enterprise and Regulatory Reform Act...

s.sch005 (1) The CMA may direct that, pending the determination of...

s.sch005 (1) Sub-paragraph (2) applies where the Payment Systems Regulator wishes...

s.sch005 (1) A group constituted by the chair of the CMA...

s.sch005 (1) The CMA, if it thinks it necessary to do...

s.sch005 (1) For the purposes of this Schedule, the CMA may...

s.sch006 Conduct of FMI administration

s.sch006 The following provisions of this Schedule provide for—

s.sch006 The provisions set out in the Tables apply in relation...

s.sch006 The modifications are that— (a) a reference to the administrator...

s.sch006 Powers conferred by this Part of this Act and by...

s.sch006 A reference in an enactment or other document to anything...

s.sch006 (1) The Treasury may by order amend this Schedule so...

s.sch007 Financial market infrastructure transfer schemes

s.sch007 This Schedule applies where— (a) the court has made an...

s.sch007 Where a proposed transfer falling within subsection (5) of section...

s.sch007 In this Schedule— “FMI transfer scheme” has the meaning given...

s.sch007 It is for the FMI administrator, while the FMI administration...

s.sch007 (1) An FMI transfer scheme may contain provision—

s.sch007 (1) An FMI transfer scheme may make incidental, supplemental, consequential...

s.sch007 (1) In relation to each provision of an FMI transfer...

s.sch007 (1) The Bank of England may by notice to the...

s.sch007 (1) An FMI transfer scheme may contain provision about—

s.sch008 Functions of FCA under competition legislation

s.sch008 Part 16A of FSMA 2000 (consumer protection and competition) is...

s.sch008 (1) Section 136 of the Enterprise Act 2002 (investigations and...

s.sch008 In section 52(4) of the Enterprise and Regulatory Reform Act...

s.sch008 In Schedule 4 to the Enterprise and Regulatory Reform Act...

s.sch008 Omit section 234H (power of FCA to make request to...

s.sch008 After section 234H insert— The FCA's functions under Part 4...

s.sch008 In section 3I of FSMA 2000 (power of PRA to...

s.sch008 In section 348 of FSMA 2000 (restrictions on disclosure of...

s.sch008 In section 354A of FSMA 2000 (FCA's duty to co-operate...

s.sch008 (1) Schedule 1ZA to FSMA 2000 (the Financial Conduct Authority)...

s.sch008 In section 9E of the Company Directors Disqualification Act 1986...

s.sch008 In section 54 of the Competition Act 1998 (regulators), in...

s.sch009 Building societies

s.sch009 The Building Societies Act 1986 is amended as follows.

s.sch009 In the following provisions, omit “, in a manner agreed...

s.sch009 In section 81(3B)(c), omit “, in a manner agreed for...

s.sch009 (1) Schedule 2 is amended as follows.

s.sch009 In paragraphs 3(2B)(c) and 9(2B)(c) of Schedule 8A, omit “in...

s.sch009 (1) Schedule 11 is amended as follows.

s.sch009 (1) Section 117 (financial year of building societies) is amended...

s.sch009 After section 117 insert— Alteration of financial year (1) A building society may by notice given to the...

s.sch009 In Schedule 20 (transitional and saving provisions), omit paragraph 16...

s.sch009 The amendments made by paragraphs 15 to 17 have effect...

s.sch009 (1) Section 7 (the funding limit) is amended as follows....

s.sch009 (1) In article 3 of the Building Societies Act 1986...

s.sch009 (1) Omit section 9B (restriction on creation of floating charges)....

s.sch009 (1) Section 74 (duty of directors to prepare annual business...

s.sch009 (1) Section 76 (summary financial statement for members and depositors)...

s.sch009 In consequence of the amendments made by paragraph 6—

s.sch009 (1) Section 100 (regulated terms etc: distributions and share rights)...

s.sch009 After section 115 insert— Deemed agreement to use of web...

s.sch010 Minor amendments

s.sch010 In Schedule 15D to the Companies Act 1985 (disclosures), omit...

s.sch010 (1) Section 85 of the Financial Services Act 2012 (relevant...

s.sch010 In section 376 of FSMA 2000 (continuation of contracts of...

s.sch010 (1) Part 25 of FSMA 2000 (injunctions and restitution) is...

s.sch010 (1) In Schedule 1ZA to FSMA 2000 (the Financial Conduct...

s.sch010 In Schedule 17A to FSMA 2000 (further provision in relation...

s.sch010 In section 991 of the Income Tax Act 2007 (meaning...

s.sch010 In section 89B of the Banking Act 2009 (application to...

s.sch010 In section 191 of the Banking Act 2009 (directions), in...

Help complying

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Payment systems and banking protections for businesses

How the Financial Services (Banking Reform) Act 2013 protects your business through the Payment Systems Regulator, FSCS deposit insurance, and ring-fencing rules. …

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Connected legislation

Instruments made under this Act. They carry the detail the Act delegates.

The Building Societies (Bail-in) Order 2014 SI 2014/3344

The Financial Services (Banking Reform) Act 2013 (Commencement No. 10) Order 2016 SI 2016/512

The Financial Services (Banking Reform) Act 2013 (Commencement No. 11) Order 2016 SI 2016/568

The Financial Services (Banking Reform) Act 2013 (Commencement No. 12) Order 2018 SI 2018/1306

The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) (England and Wales) Order 2018 SI 2018/848

The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) Order 2014 SI 2014/377

The Financial Services (Banking Reform) Act 2013 (Commencement No. 2) Order 2014 SI 2014/772

The Financial Services (Banking Reform) Act 2013 (Commencement No. 3) Order 2014 SI 2014/785

The Financial Services (Banking Reform) Act 2013 (Commencement No. 4) Order 2014 SI 2014/823

The Financial Services (Banking Reform) Act 2013 (Commencement No. 5) Order 2014 SI 2014/1819

The Financial Services (Banking Reform) Act 2013 (Commencement No. 6) Order 2014 SI 2014/2458

The Financial Services (Banking Reform) Act 2013 (Commencement No. 7) Order 2014 SI 2014/3160

The Financial Services (Banking Reform) Act 2013 (Commencement (No. 8) and Consequential Provisions) Order 2015 SI 2015/428

The Financial Services (Banking Reform) Act 2013 (Commencement No. 9) (Amendment) Order 2015 SI 2015/2055

The Financial Services (Banking Reform) Act 2013 (Commencement No. 9) Order 2015 SI 2015/490

The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) (No. 2) Order 2016 SI 2016/1023

The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) Order 2016 SI 2016/163

The Financial Services (Banking Reform) Act 2013 (Disclosure of Confidential Information) Regulations 2014 SI 2014/882

The Financial Services (Banking Reform) Act 2013 (Transitional and Savings Provisions) (Amendment) Order 2015 SI 2015/1660

The Financial Services (Banking Reform) Act 2013 (Transitional and Savings Provisions) Order 2015 SI 2015/492

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.

Financial Services (Banking Reform) Act 2013 (strengthened depositor protection)

Does it bind you?

Other Acts binding the same actors

What it requires

Ring-fencing

Depositor preference and the Financial Services Compensation Scheme

Bail-in stabilisation option

Conduct of persons working in financial services sector

Regulation of payment systems

Special administration for operators of certain infrastructure systems

Miscellaneous

Final provisions

Schedules

Help complying

Start a financial services business

Payment systems and banking protections for businesses

Connected legislation