LegalizeThe Banking Act 2009 (Commencement No. 5) Order 2016
Made
In exercise of the powers conferred by section 263(1) and (3) of the Banking Act 2009[^f00001], the Treasury make the following Order:
Citation
1
This Order may be cited as the Banking Act 2009 (Commencement No. 5) Order 2016.
Financial collateral arrangements
2
Sections 255 and 256 of the Banking Act 2009 come into force on 25th May 2016.
Signed
David Evennett — Mel Stride — Two of the Lords Commissioners of Her Majesty’s Treasury — 23rd May 2016
Explanatory note
(This note is not part of the Order)
EXPLANATORY NOTE
This Order brings into force sections 255 and 256 of the Banking Act 2009 (c.1) (“the Act”) on 25th May 2016. Section 255 enables the Treasury to make regulations about financial collateral arrangements, and the regulations may in particular include provision implementing the Financial Collateral Arrangements Directive (2002/47/EC) (OJ No L 168, 27.6.2002, p.43). Section 256 contains further provision about regulations under section 255.
Footnotes
[^f00001]: 2009 c.1.
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