Financial Services (Banking Reform) Act 2013

[^key-e36ef45e3c9db0e11597d8f5e96ac0fb]: Words in s. 39(10) substituted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(2)

[^key-bc95589ba418d3d3fa06bf085aaade73]: Word in s. 71(a) omitted (26.10.2018) by virtue of The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(3)(a)

[^key-406bea63a27034c8e67946083076f705]: S. 71(c) and word inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(3)(b)

[^key-b7a3182a9a00b243c6eef3b3b3d589f6]: Sch. 4 para. 5(3)(c)(d) inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(5)(a)

[^key-74479234b3f7ac26eb1dec2f6b3f275a]: S. 1 in force at 1.1.2019 by S.I. 2018/1306, art. 2(a)

[^key-36f283ffbe9332206483108b67925393]: S. 2 in force at 1.1.2019 by S.I. 2018/1306, art. 2(b)

[^key-01b92268af657a5f4e1145a0d7fcbdb7]: S. 3 in force at 1.1.2019 by S.I. 2018/1306, art. 2(c)

[^key-7e6c1ed2f40f6ebe9081db19b5242bec]: S. 4 in force at 1.1.2019 in so far as not already in force by S.I. 2018/1306, art. 2(d)

[^key-e00638e5dc14c016f18b1f443d62daf3]: S. 5 in force at 1.1.2019 by S.I. 2018/1306, art. 2(e)

[^key-19a4d2f03662c0d282adb00638e4609f]: S. 7 in force at 1.1.2019 by S.I. 2018/1306, art. 2(f)

[^key-c21e8f7fcbbd6dcae2075b4edb169ae6]: S. 8 in force at 1.1.2019 by S.I. 2018/1306, art. 2(g)

[^key-90cfb152e449346f803df2f680fd8c16]: S. 9 in force at 1.1.2019 by S.I. 2018/1306, art. 2(h)

[^key-b603eb1ca58b6a0e52f191252fe99d46]: S. 10 in force at 1.1.2019 by S.I. 2018/1306, art. 2(i)

[^key-9d384165dfc62186ebd3429759648924]: S. 11 in force at 1.1.2019 by S.I. 2018/1306, art. 2(j)

[^key-263cecd2434b540fc15ae08a2e7bfe63]: S. 12 in force at 1.1.2019 by S.I. 2018/1306, art. 2(k)

[^key-7b175d50845ef41b3de5a909877d0f10]: S. 133(1) in force at 1.1.2019 in so far as not already in force by S.I. 2018/1306, art. 2(l)

[^key-fa4f1cc985728ce993080dfc93d09d41]: Words in s. 41(2)(d) inserted (27.3.2019) by The Uncertificated Securities (Amendment and EU Exit) Regulations 2019 (S.I. 2019/679), regs. 1(2), 3(2) (with regs. 10-12)

[^key-a7d11d4c45451ed4f6dedcd85050d250]: Words in s. 112(2)(b) omitted (27.3.2019) by virtue of The Uncertificated Securities (Amendment and EU Exit) Regulations 2019 (S.I. 2019/679), regs. 1(2), 3(3) (with regs. 10-12)

[^key-88534898094cbea10a64dfd7600bd245]: Words in s. 115(1A) omitted (27.3.2019) by virtue of The Uncertificated Securities (Amendment and EU Exit) Regulations 2019 (S.I. 2019/679), regs. 1(2), 3(4) (with regs. 10-12)

[^key-c4947653a2291915eaed7829b13a936e]: S. 139 omitted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 98(2)

[^key-d7549e95c5a7e6826be2406be0719696]: S. 140 omitted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 98(3)

[^key-123d21a515ff91e08fbacf9bbf98b255]: S. 147(2)(b)(c) omitted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 98(4)

[^key-ff6de9ed2cb5960f77293d1450804137]: Word in s. 111 omitted (26.6.2020) by virtue of Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 49(2)(a) (with ss. 2(2), 5(2))

[^key-680202928df71148a196a66de1bde781]: S. 111(c) and word inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 49(2)(b) (with ss. 2(2), 5(2))

[^key-a311dff8472996bb8fb6c858b4ff632f]: S. 124A and cross-heading inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 49(3) (with ss. 2(2), 5(2))

[^key-ff2e9d4c9be3d95bb8a2d29f76a5ce4d]: S. 18(4) omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 22(2); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with reg. 3)

[^key-0d322dd3064f3520728110a3cb5985a5]: S. 20(3) omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 22(3); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with reg. 3)

[^key-68a42ee3aeceaf80268d662c8db5d310]: S. 23(6) omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 22(4); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with reg. 3)

[^key-2ee3df9ece81bb490eb6b43424126b48]: S. 37(8) substituted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 22(6); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with reg. 3)

[^key-fb91f2533f3c485ee98e14ee811818be]: S. 136(2)(a) omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 22(7); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5) (with reg. 3)

[^key-40b9be297d712643e4883f4366cbd629]: Word in s. 61(2)(b) inserted (31.12.2020) by S.I. 2019/93, Sch. 1 para. 15(2) (as substituted by The Competition (Amendment etc.) (EU Exit) Regulations 2020 (S.I. 2020/1343), regs. 1(1), 27)

[^key-b2d65fc2ffa35e012df70989ff2f5346]: S. 61(2)(c) substituted for s. 61(2)(c)(d) (31.12.2020) by S.I. 2019/93, Sch. 1 para. 15(3) (as substituted by The Competition (Amendment etc.) (EU Exit) Regulations 2020 (S.I. 2020/1343), regs. 1(1), 27)

[^key-c6c6f70be29daf0f13f2f6d24a5a9929]: S. 92(2)(b) omitted (31.12.2020) by virtue of The Public Record, Disclosure of Information and Co-operation (Financial Services) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/681), regs. 1(3), 3(a)(i); 2020 c. 1, Sch. 5 para. 1(1)

[^key-fdc618100138b6dd7af6bbd1d172e510]: Words in s. 92(2)(c) inserted (31.12.2020) by The Public Record, Disclosure of Information and Co-operation (Financial Services) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/681), regs. 1(3), 3(a)(ii); 2020 c. 1, Sch. 5 para. 1(1)

[^key-4597eff7f769672be81a12a8f7ded29a]: S. 94(7)(d) omitted (31.12.2020) by virtue of The Public Record, Disclosure of Information and Co-operation (Financial Services) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/681), regs. 1(3), 3(b); 2020 c. 1, Sch. 5 para. 1(1)

[^key-18f87d6628824c5766e1b9a7da26f848]: Words in s. 100(7) omitted (31.12.2020) by virtue of The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1201), reg. 1(3), Sch. 1 para. 2(2) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)

[^key-cec808fc7fbcf9bd0f3b0c2066c008ee]: Words in s. 101(7) omitted (31.12.2020) by virtue of The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1201), reg. 1(3), Sch. 1 para. 2(3) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)

[^key-ea601705a6b7aa4d408abb82ce180745]: Words in s. 102(7) omitted (31.12.2020) by virtue of The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1201), reg. 1(3), Sch. 1 para. 2(4) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)

[^key-1388f7f47d63b0c81dc5424d5f05473b]: Sch. 2 para. 11 omitted (31.12.2020) by virtue of The State Aid (Revocations and Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1470), reg. 1(2), Sch. 2 para. 3 (with Sch. 3)

[^key-920080d3d17de662987efbbe57739fe4]: Words in Sch. 7 para. 5(2)(e) inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 2 para. 4(a); 2020 c. 1, Sch. 5 para. 1(1)

[^key-4a9c2a56c82a63f00857b21fe7c7da23]: Words in Sch. 7 para. 5(2)(f) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 2 para. 4(b); 2020 c. 1, Sch. 5 para. 1(1)

[^key-b5d90ac6a23acefb47a1d34fc719c9e7]: S. 33 omitted (13.9.2018 for specified purposes, 10.12.2018 for specified purposes, 18.7.2019 for specified purposes, 9.8.2019 for specified purposes, 9.12.2019 for specified purposes, 7.12.2020 for specified purposes, 9.12.2020 for specified purposes, 7.12.2021 in so far as not already in force) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 4 para. 22(5); S.I. 2018/990, reg. 2(1)(2)(3) (with regs. 3-6); S.I. 2019/1136, reg. 2(2)(3)(4)(5)(6)(7) (with reg. 3)

[^key-43b258b20ce3195fc39ec5caf5a05ed0]: Words in s. 36(4)(a)(i) substituted (28.4.2022) by The Criminal Justice Act 2003 (Commencement No. 33) and Sentencing Act 2020 (Commencement No. 2) Regulations 2022 (S.I. 2022/500), regs. 1(2), 5(1), Sch. Pt. 1

[^key-c74cbd5f885730b5cd7f0e620ea8e748]: Words in s. 90(7)(a)(i) substituted (28.4.2022) by The Criminal Justice Act 2003 (Commencement No. 33) and Sentencing Act 2020 (Commencement No. 2) Regulations 2022 (S.I. 2022/500), regs. 1(2), 5(1), Sch. Pt. 1

[^key-ebc4b66ce032a1665fc2d8f3d3626899]: Words in Sch. 5 para. 14(2)(a)(i) substituted (28.4.2022) by The Criminal Justice Act 2003 (Commencement No. 33) and Sentencing Act 2020 (Commencement No. 2) Regulations 2022 (S.I. 2022/500), regs. 1(2), 5(1), Sch. Pt. 1

[^key-75fc43aa2328ed4df5a5981ceb33bb4d]: Words in s. 36(4)(a)(i) substituted (7.2.2023 at 12.00 p.m.) by The Judicial Review and Courts Act 2022 (Magistrates’ Court Sentencing Powers) Regulations 2023 (S.I. 2023/149), regs. 1(2), 2(1), Sch. Pt. 1 table

[^key-268c76c90370644a50625a9db7253fc1]: Words in s. 90(7)(a)(i) substituted (7.2.2023 at 12.00 p.m.) by The Judicial Review and Courts Act 2022 (Magistrates’ Court Sentencing Powers) Regulations 2023 (S.I. 2023/149), regs. 1(2), 2(1), Sch. Pt. 1 table

[^key-f953ce86e069a302419a3416517b516a]: Words in Sch. 5 para. 14(2)(a)(i) substituted (7.2.2023 at 12.00 p.m.) by The Judicial Review and Courts Act 2022 (Magistrates’ Court Sentencing Powers) Regulations 2023 (S.I. 2023/149), regs. 1(2), 2(1), Sch. Pt. 1 table

[^key-4ed1adb1f49756428d9d113872a91224]: Words in s. 111 heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 3

[^key-db76788f35b2dee95bce97d608ad08e8]: Sch. 4 para. 7A inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 12; S.I. 2023/779, reg. 4(ccc)(vi)

[^key-7fc4390698beedd582fc19467cf810d8]: Sch. 4 paras. 14A, 14B inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 13; S.I. 2023/779, reg. 4(ccc)(vi)

[^key-e0bd16cf20812c070727a00ad247ccf3]: S. 102A and cross-heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 4; S.I. 2023/779, reg. 4(ccc)(iv)

[^key-516322097f0876cec59b72e8e7eb670d]: S. 102B inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 5; S.I. 2023/779, reg. 4(ccc)(iv)

[^key-7098bd526065db70f165a0375226c1dc]: S. 15 omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), ss. 62(4), 86(2)(h)

[^key-d02015fa726bef54a0cf14e800daa294]: S. 39(11A) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 2(a); S.I. 2023/779, reg. 4(ccc)(ii)

[^key-961d895e5b8eae5c1b275f8062be28d2]: S. 41(2A)-(2C) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 41(2)

[^key-1a64fdd54b07a57e48a81b46d3051bca]: S. 42(5A) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 42(3)

[^key-e66758a653407b928c4b84cbf7c2c31e]: Words in s. 42(2)(c) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 42(2)

[^key-2bda1875485f3cd591fae39043f9820c]: S. 98(5)(c) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 43

[^key-79ab573602ed6e98e3f98db1cea9fe74]: Words in s. 98(5)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 16

[^key-310457b8f9a986625320a8dded3872ab]: S. 104(5A)-(5D) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 53(3), 86(3); S.I. 2023/779, reg. 4(mm)

[^key-c8b0a72b17dfefbc8f51bec6ff84b2f6]: S. 104(12A)(12B) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 6(c); S.I. 2023/779, reg. 4(ccc)(iv)

[^key-aa5a86e0cfa2d91b7c2190860abee606]: Word in s. 104(1) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 6(a); S.I. 2023/779, reg. 4(ccc)(iv)

[^key-d5a5267ce5a0e78b546feb61715a6f63]: S. 104(3)(ba) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 6(b); S.I. 2023/779, reg. 4(ccc)(iv)

[^key-ab054e3762c1db4fcd045c02c394dc71]: Words in s. 110 inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 44

[^key-e56b28736fdd2a607fb787fcf86bb81e]: Words in s. 110(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 9; S.I. 2023/779, reg. 4(ccc)(vi)

[^key-12f62440a02ebd8f3d80bdf6e67f0966]: S. 112(7) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 4(5)

[^key-f3ac6905eca864f80af69b70b05b2ce4]: S. 112(2)(aa) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 45

[^key-883de0de087adc816d81b7c0e9780f1c]: S. 112(2)(ba) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 4(2)

[^key-07cd03836d93edd6bde6fb6ebe0d057c]: Words in s. 112(4)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 4(3)(b)

[^key-b1df5a5cd6248a134f273aea29970a11]: Word in s. 112(2)(b) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 4(2)

[^key-355dea63502060ea0da6dfa3df5cf9ab]: Words in s. 112(4)(a) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 4(3)(a)

[^key-c05f2ab87fc2d89f4547cc187752e492]: Words in s. 112(6)(b) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 4(4)

[^key-b9e412194e4da265b0119da8023c2800]: Words in s. 113(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 46

[^key-5370fb0938994899cc6daf0c4f612839]: Words in s. 113(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 5(a)

[^key-c3b43263dd55a8c8f7312dc6188c18fc]: Words in s. 113(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 5(b)

[^key-4f9b59c364a59bc2f3e2913aa712f6ae]: S. 115(1B) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 6

[^key-6b08701c137da209df6df0494269fe71]: Words in s. 115(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 47(2)

[^key-ac037ccd1c6b3be2ff72845103c0c939]: Words in s. 115(1)(a) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 47(3)

[^key-2fc666c857cd677dda52431d484e3408]: Words in s. 119(6) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 7

[^key-6d8a1e84978ae1fa701ba104fb169681]: Words in s. 120(8) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 8

[^key-73d386ba1def5c75f138c0248d15a7b6]: Words in s. 127(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 9

[^key-4a62b6fea9c87a492326148920b4767a]: S. 143(2)(aa) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 48

[^key-a948b59b009aed4455516ef6425b4231]: S. 143(2)(ba)(bb) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 10; S.I. 2023/779, reg. 4(ccc)(vi)

[^key-d8ba6dc64d472e2f5694c994eaa1726b]: Sch. 4 para. 7(2)(ba)(bb) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 11; S.I. 2023/779, reg. 4(ccc)(vi)

[^key-e3bf7f20a32230f5fac2f1698f44d2c6]: S. 103(5A)-(5C) inserted (29.8.2023 for specified purposes, 26.12.2023 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), ss. 46(9), 86(3); S.I. 2023/779, reg. 4(jj)(ii); S.I. 2023/1382, reg. 7(c) (with reg. 17)

[^key-b549544d32cd97987647ec7d93974b84]: S. 103(5A) excluded (26.12.2023) by The Financial Services and Markets Act 2023 (Panel Remuneration and Reports) Regulations 2023 (S.I. 2023/1273), regs. 1(2), 2(3)

[^key-1ae2b182a6b3fff3e2dd051310b09bab]: Sch. 2 para. 9 omitted (31.12.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 164(2); S.I. 2023/1382, reg. 8(b)

[^key-ec72f71c25d573ecd57141a3c29d6a78]: Sch. 10 para. 7 omitted (31.12.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 11 para. 164(3); S.I. 2023/1382, reg. 8(b)

[^key-2e8dac60a24b35ad423632489b4ad915]: S. 98(6)(a) modified (1.1.2024) by S.I. 2015/1911, reg. 4B (as inserted by The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 10)

[^key-3cf94377faeae46f683f790a5d75539a]: S. 101(2) modified (1.1.2024) by S.I. 2015/1911, reg. 4C (as inserted by The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 10)

[^key-130c651c42a602f22cdc45049a6108f3]: Word in s. 39(12) substituted (1.1.2024) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 2(b); S.I. 2023/1382, reg. 9(1)(d)(ii)

[^key-32a67e8c3d86d56c86583365876d8a48]: Word in s. 97A(2)(b) substituted (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 80

[^key-0a4fd89b480e5fd27184d9c4fb7743ef]: S. 107A inserted (1.1.2024) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 8; S.I. 2023/1382, reg. 9(1)(d)(iii) (with reg. 15)

[^key-4f6d1291d9ec5d3cfde30af3d579d268]: Ss. 104A-104I inserted (29.8.2023 for specified purposes, 1.8.2024 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 7; S.I. 2023/779, reg. 4(ccc)(v); S.I. 2023/1382, reg. 11(c)

[^key-ca69ed4522b046f2fdf9c67252921cdc]: Words in s. 53(c) inserted (29.8.2023 for specified purposes, 1.1.2025 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 7 para. 3; S.I. 2023/779, reg. 4(ccc)(iii); S.I. 2023/1382, reg. 12(d) (with reg. 16(2))

[^key-f69a4440858f8c994a68b3a742393db0]: Words in s. 59(3) inserted (1.1.2025) by Digital Markets, Competition and Consumers Act 2024 (c. 13), s. 339(1), Sch. 12 para. 21(2)(a); S.I. 2024/1226, regs. 1(2), 2(1)(16)

[^key-4e0a2e3a49ec802d3b119126747cf106]: Words in s. 59(3) inserted (1.1.2025) by Digital Markets, Competition and Consumers Act 2024 (c. 13), s. 339(1), Sch. 12 para. 21(2)(b); S.I. 2024/1226, regs. 1(2), 2(1)(16)

[^key-dddb512fd05b9bd5d8bde53be18d35d6]: Words in s. 59(5)(a) substituted (1.1.2025) by Digital Markets, Competition and Consumers Act 2024 (c. 13), s. 339(1), Sch. 12 para. 21(3); S.I. 2024/1226, regs. 1(2), 2(1)(16)

[^key-9f671f3855fa85ea4ae9600796391a90]: Word in s. 61(5)(a) inserted (1.1.2025) by Digital Markets, Competition and Consumers Act 2024 (c. 13), s. 339(1), Sch. 12 para. 22(3); S.I. 2024/1226, regs. 1(2), 2(1)(16)

[^key-b346206eeee962e1b24b7850aacfdd3a]: Words in s. 61(4) inserted (1.1.2025) by Digital Markets, Competition and Consumers Act 2024 (c. 13), s. 339(1), Sch. 13 para. 3; S.I. 2024/1226, regs. 1(2), 2(1)(17)

[^key-5be3e026bd81c901aeb4a192059b43c2]: Words in s. 61(3) inserted (1.1.2025) by Digital Markets, Competition and Consumers Act 2024 (c. 13), s. 339(1), Sch. 12 para. 22(2); S.I. 2024/1226, regs. 1(2), 2(1)(16)

[^key-801017c5ed06026b478a4e0822a8574a]: S. 59(7) inserted (1.1.2025 for specified purposes, 6.4.2025 for specified purposes) by Digital Markets, Competition and Consumers Act 2024 (c. 13), s. 339(1), Sch. 29 para. 11(2); S.I. 2024/1226, regs. 1(2), 2(1)(21); S.I. 2025/272, reg. 2(1)(13)

[^key-b99e804959b58247eadaa96bb8768681]: S. 61(6) inserted (1.1.2025 for specified purposes, 6.4.2025 for specified purposes) by Digital Markets, Competition and Consumers Act 2024 (c. 13), s. 339(1), Sch. 29 para. 11(3); S.I. 2024/1226, regs. 1(2), 2(1)(21); S.I. 2025/272, reg. 2(1)(13)

[^key-9ed3faa4ff6173356dcb2148dc6d9ffd]: S. 98: power to amend conferred (19.6.2025 for specified purposes) by Data (Use and Access) Act 2025 (c. 18), ss. 17, 142(1)(2)(h)

Complaints by representative bodies

Investigations into regulatory failure

Investigations into regulatory failure

Functions of FCA under competition legislation

Duty of FCA to make rules restricting charges for high-cost short-term credit

Duty to meet auditors of certain institutions

Amendments of section 429 of FSMA 2000

Amendments of section 429 of FSMA 2000

Accounts of Bank of England and its wholly-owned subsidiaries

Building societies

Orders and regulations: general

Recovery of expenditure incurred by Office for Legal Complaints

Orders and regulations: general

Restrictions on exercise of functions under Part 4 of the Enterprise Act 2002

Technical Standards

97A

• (1) This section, section 97B, section 97C and section 97D apply where a power for the Payment Systems Regulator to make technical standards is substituted for the power of an EU entity to make EU tertiary legislation (the “original EU power”) by regulations made under section 8 of the European Union (Withdrawal) Act 2018.

• (2) The power to make technical standards includes power to modify, amend or revoke—

• (a) any technical standards made by the Payment Systems Regulator under that power;

• (b) any EU tertiary legislation made by an EU entity under the original EU power which forms part of assimilated law.

• (3) Before making any technical standards in which the FCA, the PRA or the Bank of England has an interest (within the meaning of section 138P(5) of the Financial Services and Markets Act 2000), the Payment Systems Regulator must consult the regulator concerned.

• (4) For the purposes of this section, “EU tertiary legislation” has the meaning given in section 14 of the European Union (Withdrawal) Act 2018.

97B

• (1) The power to make technical standards is to be exercised by the Payment Systems Regulator by making an instrument under this section (a “standards instrument”).

• (2) A standards instrument must specify the provision under which the instrument is being made.

• (3) To the extent that a standards instrument does not comply with subsection (2), it is void.

• (4) A standards instrument must be published by the Payment Systems Regulator in the way appearing to the regulator to be best calculated to bring it to the attention of the public.

• (5) The Treasury must lay before Parliament a copy of each standards instrument made under this section.

• (6) The Payment Systems Regulator may charge a reasonable fee for providing a person with a copy of a standards instrument.

97C

• (1) A standards instrument may be made only if it has been approved by the Treasury.

• (2) The Treasury may refuse to approve a standards instrument if subsection (3) applies.

• (3) This subsection applies if it appears to the Treasury that the instrument would—

• (a) have implications for public funds (within the meaning of section 78(2) of the Banking Act 2009); or

• (b) prejudice any current or proposed negotiations for an international agreement between the United Kingdom and one or more other countries, international organisations or institutions.

• (4) For the purposes of subsection (3), “international organisations” includes the European Union.

• (5) The Treasury must notify the Payment Systems Regulator in writing whether or not they approve a standards instrument within four weeks after the day on which that instrument is submitted to the Treasury for approval (“the relevant period”).

• (6) Provision of a draft standards instrument to the Treasury for consultation does not amount to submission of the instrument for approval.

• (7) If the Treasury do not approve the instrument, they must—

• (a) set out in the notice given under subsection (5) the Treasury’s reasons for not approving the instrument;

• (b) lay before Parliament—

• (i) a copy of that notice;

• (ii) a copy of any statement made by the Payment Systems Regulator as to its reasons for wishing to make the instrument.

• (8) If the Treasury do not give notice under subsection (5) before the end of the relevant period, the Treasury is deemed to have approved the standards instrument.

97D

• (1) Section 104 (consultation in relation to generally applicable requirements) applies to making technical standards as it applies to imposing a generally applicable requirement within the meaning of section 104(1), as if—

• (a) in subsection (3)(c) the reference to the Payment Systems Regulator’s duties under section 49 were a reference to the Payment Systems Regulator’s duties under regulation 3(2) and (4) of the Payment Card Interchange Fee Regulations 2015 (“the 2015 Regulations”);

• (b) in subsection (10), the reference to regulated payment systems were a reference to regulated persons within the meaning of regulation 2(1) of the 2015 Regulations.

• (2) The provisions of the Financial Services and Markets Act 2000 listed in subsection (3) apply to technical standards made by the Payment Systems Regulator as they apply to rules made by the FCA subject to the modifications specified in subsection (3).

• (3) The provisions referred to in subsection (2) are—

• (a) section 137T (general supplementary powers) (ignoring paragraph (b));

• (b) section 138E (limit on effect of contravening rules) (ignoring subsection (3));

• (c) section 138F (notification of rules) (ignoring subsection (2));

• (d) section 138H (verification of rules) (treating the reference in subsection (2)(c) to section 138G(4) of the Act as a reference to section 97B(4)).

Functions of FCA under competition legislation

Fees to meet Treasury expenditure relating to international organisations

Orders and regulations: general

Minor amendments

Funding (regulated persons)

9A

• (1) For the purposes mentioned in sub-paragraph (2), the Regulator may make rules requiring regulated persons within the meaning of regulation 2(1) of the Payment Card Interchange Fee Regulations 2015 to pay to the Regulator specified amounts or amounts calculated in a specified way.

• (2) The purpose is to meet the expenses incurred, or expected to be incurred, by the Regulator in connection with any functions conferred on it by virtue of regulations made under the European Union (Withdrawal) Act 2018.

• (3) Before making any rules under this paragraph, the Regulator must consult the FCA and the Treasury.

• (4) In this paragraph “specified” means specified in the rules.

• (5) The sections listed in sub-paragraph (6) apply, subject to the modifications specified in that sub-paragraph, to rules made by the Regulator under this paragraph as they apply to rules made by the FCA.

• (6) The sections referred to in sub-paragraph (5) are—

• (a) section 137T (general supplementary powers) as if the reference in paragraph (a) to authorised person were a reference to regulated persons;

• (b) section 138A (modification or waiver of rules) as if the reference to the regulator’s objectives were a reference to the payment systems objectives of the Regulator (within the meaning of section 49);

• (c) section 138B (publication of directions under section 138A);

• (d) section 138E (limits on effects of contravening rules), ignoring subsection (3);

• (e) section 138F (notification of rules), ignoring subsection (2);

• (f) section 138G (rule-making instruments);

• (g) section 138H (verification of rules).

Statements of responsibilities

Power to give approval subject to conditions or for limited period

Duty to notify regulator of grounds for withdrawal of approval

Orders and regulations: Parliamentary control

Powers to participate in Part 26A proceedings

124A

• (1) This section applies where Part 26A of the Companies Act 2006 (“the 2006 Act”) (arrangements and reconstructions: companies in financial difficulty) applies in relation to an infrastructure company.

• (2) A relevant applicant must give notice to the Bank of England of—

• (a) any application which the relevant applicant intends to make under section 901C(1) of the 2006 Act, and

• (b) any application which the relevant applicant believes a creditor or member of the company has made, or intends to make, under section 901C(1) of that Act in relation to the company.

• (3) A relevant applicant may not make an application under section 901C(1) of the 2006 Act in relation to the company without the consent of the Bank of England.

• (4) In this section “relevant applicant”, in relation to a company, means—

• (a) the company;

• (b) if the company is being wound up, the liquidator;

• (c) if the company is in administration, the administrator.

• (5) The Bank of England is entitled to be heard at any hearing of an application made under section 901C or 901F of the 2006 Act in relation to the company.

• (6) Any notice or other document required to be sent to a creditor of the company must also be sent to the Bank of England.

• (7) A person appointed for the purpose by the Bank of England is entitled—

• (a) to attend any meeting of creditors of the company summoned under section 901C of the 2006 Act;

• (b) to make representations as to any matter for decision at such a meeting.

• (8) Sections 197, 198 and 202A of the Banking Act 2009, and sections 201 and 202 of that Act, so far as relating to those sections, apply in relation to a failure by an infrastructure company to comply with subsection (2) or (3) above as they apply in relation to a compliance failure within the meaning of Part 5 of that Act.

Building societies

Orders and regulations: general

Meaning of “payment system”

Competition scrutiny

Recommendations

102A

• (1) The Treasury may at any time by notice in writing to the Payment Systems Regulator make recommendations to the Regulator about aspects of the economic policy of His Majesty’s Government to which the Regulator should have regard when considering—

• (a) how to advance one or more of its payment systems objectives,

• (b) the application of the regulatory principles in section 53, and

• (c) its exercise of functions under—

• (i) Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card-based payment transactions,

• (ii) the Payment Card Interchange Fee Regulations 2015 (S.I. 2015/1911), or

• (iii) the Payment Services Regulations 2017 (S.I. 2017/752).

• (2) The Treasury must make recommendations under subsection (1) at least once in each Parliament.

• (3) The Payment Systems Regulator must respond to each recommendation made to it under subsection (1) by notifying the Treasury in writing of—

• (a) action that the Regulator has taken or intends to take in accordance with the recommendation, or

• (b) the reasons why the Regulator has not acted or does not intend to act in accordance with the recommendation.

• (4) The notice under subsection (3) must be given before the end of 12 months beginning with the date the notice containing the recommendation was given under subsection (1).

• (5) Where the Payment Systems Regulator has given notice under subsection (3) in relation to a recommendation, the Regulator must by notice in writing update the Treasury on the matters mentioned in subsection (3)(a) and (b) before the end of each subsequent period of 12 months.

• (6) Subsection (5) does not apply if the Treasury have notified the Payment Systems Regulator in writing that no update (or further update) is required.