http://www.legislation.gov.uk/uksi/1992/3218/contents/made

The Banking Coordination (Second Council Directive) Regulations 1992

Banking

Credit licences

King's Printer of Acts of Parliament

2016-10-18

BANKING

These Regulations give effect to the Second Council Directive 89/646/EEC on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions (OJ No. L386, 30.12.89, p.1), and to certain provisions of Council Directive 77/780/EEC (OJ No. L322, 17.12.77, p.30), which is amended by the Second Council Directive. They also give effect to the Council Directive 92/30/EEC on the supervision of credit institutions on a consolidated basis (OJ No. L110, 28.4.92, p.52). The Regulations come into force on 1st January 1993.

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2(1) (defn. of the Authority)

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.22(a)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2(1) (defn. of the Board)

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.22(b)

The Banking Coordination (Second Council Directive) Regulations 1992

regs.8-10

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.23

The Banking Coordination (Second Council Directive) Regulations 1992

reg.11

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.24(a)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.11(1)

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.24(b)

The Banking Coordination (Second Council Directive) Regulations 1992

regs.12-13A

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.25

The Banking Coordination (Second Council Directive) Regulations 1992

reg.14

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.26

The Banking Coordination (Second Council Directive) Regulations 1992

regs.20

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.27

The Banking Coordination (Second Council Directive) Regulations 1992

reg.62(a)

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.28

The Banking Coordination (Second Council Directive) Regulations 1992

reg.76(4)

Bank of England Act 1998

s.43

Sch.9

Pt.II

The Banking Coordination (Second Council Directive) Regulations 1992

Schs.2

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.29

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.4

para.1(6)(a)

Bank of England Act 1998

ss.23

Sch.5 Pt.I Ch.II

para.30

Sch.9

Pt.II

The Banking Coordination (Second Council Directive) Regulations 1992

Schs.5-7

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.31

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.8

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.32

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.9

para.19(c)

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.33

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.10

para.8(1)

Bank of England Act 1998

s.43

Sch.9

Pt. II

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.10

para.31

Bank of England Act 1998

s.43

Sch.9

Pt.II

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.10

para.33

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.34

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.10

para.40(2)

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.34

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.11

paras.4(6)

5(2)

Bank of England Act 1998

s.23

Sch.5 Pt.I Ch.II

para.35

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(a)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(b)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(c)(i)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(c)(ii)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(d)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(e)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(f)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(g)(i)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(g)(ii)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(2)(g)(iii)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1A)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(3)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(2B)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(3)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2B(3)(a)

(b)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(4)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 50(1)(c)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(5)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

Sch. 9

para. 45(3)(b)

The Banking Consolidation Directive (Consequential Amendments) Regulations 2000

reg. 10(6)

reg. 1

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2(1)

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1995

reg.2

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 3(1)

The Investment Services Regulations 1995

Sch. 9

para. 2

reg. 1(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 3(3)

The Investment Services Regulations 1995

Sch. 9

para. 2

reg. 1(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Investment Services Regulations 1995

Sch. 9

para. 3(a)

reg. 1(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 3(7)

The Investment Services Regulations 1995

Sch. 9

para. 3(b)

reg. 1(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 4(2)

The Investment Services Regulations 1995

Sch. 9

para. 3(c)

reg. 1(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 5(1)

The Investment Services Regulations 1995

Sch. 9

para. 3(d)

reg. 1(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 65

The Investment Services Regulations 1995

Sch. 9

para. 3(e)

reg. 1(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 66

The Investment Services Regulations 1995

Sch. 9

para. 3(f)

reg. 1(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 6(2)

The Investment Services Regulations 1995

Sch. 9

para. 5

reg. 1(1)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)(b) and word

The Banking (Gibraltar) Regulations 1999

reg. 2(2)(a)

reg. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking (Gibraltar) Regulations 1999

reg. 2(2)(b)

reg. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(1)

The Banking (Gibraltar) Regulations 1999

reg. 2(2)(c)

reg. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2B-2C

The Banking (Gibraltar) Regulations 1999

reg. 2(3)

reg. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 3(7)

The Banking (Gibraltar) Regulations 1999

reg. 2(4)

reg. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 4(1)

The Banking (Gibraltar) Regulations 1999

reg. 2(5)

reg. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 4(2)

The Banking (Gibraltar) Regulations 1999

reg. 2(6)

reg. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.8

para 8(3)

Criminal Justice Act 1993

s. 70(1)

(4)

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.8

para 8(3)

Criminal Justice Act 1993

s. 79(14)

Sch.6

Pt II

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.8. para 9(2)

Criminal Justice Act 1993

s. 70(1)

(4)

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.8

para 9(2)

Criminal Justice Act 1993

s. 79(14)

Sch.6

Pt II

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.8. para 10(3)

Criminal Justice Act 1993

s. 70(1)

(4)

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.8

para 10(3)

Sch.10

paras 17

Criminal Justice Act 1993

s. 79(14) Sch.6. Pt II

The Banking Coordination (Second Council Directive) Regulations 1992

Regulations

The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

art. 3(2)(a)

art. 1

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

Sch. 10

para. 12

The Postal Services Act 2000 (Consequential Modifications No. 1) Order 2001

Sch. 2

art. 4(11)

art. 1(2)

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

Sch 2

para 4

The Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001

reg 20(1)

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

Sch 6

para 5

The Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001

reg 21(1)

(2)

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg 10

The Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) Order 2001

art 4(1)

art 4(3)(b)

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg 23

The Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) Order 2001

art 4(1)

art 4(3)(b)

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

The Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Information Requirements and Investigations) Order 2001

art 12

Banking Coordination (Second Council Directive) Regs

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2(1) (defn of the commencement date)

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(a)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2(1) (defns of member state and relevant EFTA State)

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(b)(c)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2A

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(d)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.5(1)

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(e)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.5(3)

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(f)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.13A

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(g)

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.11

para 3(3)

The Banking Coordination (Second Council Directive) (Amendment) Regulations 1993

reg.2(h)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2 defn(s).

The Banking (Gibraltar) Regulations 1999

reg.2(2)

The Banking Coordination (Second Council Directive) Regulations 1992

reg 2B

The Banking (Gibraltar) Regulations 1999

reg.2(3)

The Banking Coordination (Second Council Directive) Regulations 1992

reg.2C

The Banking (Gibraltar) Regulations 1999

reg.2(4)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 9(2)(c)(i)

(ii)

The Credit Institutions (Protection of Depositors)Regulations 1995

reg. 50(1)

reg. 54

reg. 1(2)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 9(2)(d)(i)

(ii)

The Credit Institutions (Protection of Depositors)Regulations 1995

reg. 50(2)

reg. 54

reg. 1(2)

The Banking Coordination (Second Council Directive) Regulations 1992

Sch. 8

para. 13-16

The Credit Institutions (Protection of Depositors)Regulations 1995

reg. 52(4)

reg. 54

reg. 1(2)

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.10

para.15

Data Protection Act 1998

s.74(2)

Sch.16

Pt.II

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.10

para.40

Data Protection Act 1998

s.74(2)

Sch.16

Pt.II

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.10

para.23

The Financial Services Act 1986 (Corporate Debt Exemption) Order 1997

art.5

The Banking Coordination (Second Council Directive) Regulations 1992

defn of European authorised institution

Finance Act 1994

s. 177(1)

The Banking Coordination (Second Council Directive) Regulations 1992

Sch.10

para 48

The Disclosure of Interests in Shares (Amendment) Regulations 1993

reg.10(2)

The Banking Coordination (Second Council Directive) Regulations 1992

reg. 2(2B)

The Financial Institutions (Prudential Supervision) Regulations 1996

Sch. 5

para. 10

reg. 1(2)

The Banking Coordination (Second Council Directive) Regulations 1992

PART IGENERAL

1Citation and commencement

2Interpretation: general

PART IIRECOGNITION OF EUROPEAN INSTITUTIONS

Preliminary

3European institutions

4Authorised and permitted activities

Effect of recognition

5Authorisations and licences not required

6Procedural requirements for carrying on listed activities

Effect of non-recognition

7Prohibition on carrying on certain listed activities

Functions of Bank

8Duty to prepare for supervision

9Power to prohibit the acceptance of deposits

10Power to restrict listed activities

11Limitations on Bank’s powers

12Prohibition or restriction on information from supervisory authority

13Obligation of Bank where institution ceases to be a European institution etc.

Functions of Board

14Duty to prepare for supervision

15Power to prohibit the carrying on of investment business

16Power to restrict the carrying on of investment business

17Limitations on Board’s powers

Functions of Director

18Power to prohibit the carrying on of Consumer Credit Act business

19Power to restrict the carrying on of Consumer Credit Act business

PART IIIRECOGNITION IN OTHER MEMBER STATES OF UK INSTITUTIONS

Preliminary

20UK institutions etc.

21Authorised and permitted activities

Procedural requirements

22Procedural requirements for carrying on certain listed activities

Regulation of UK subsidiaries for recognition purposes

23Restriction on activities of UK subsidiaries

24Restriction on information from supervisory authority

PART IVAMENDMENTS OF BANKING ACT

Authorisations

25Applications for authorisation

26Grant and refusal of authorisation

27Minimum criteria for authorisation

28Revocation of authorisation

29Revocation or restriction on information from supervisory authority

30Notice of revocation, restriction or surrender

Objections to controllers

31Objections to controllers

Implementation of certain EC decisions

32Implementation of certain EC decisions

Information and investigations

33Notification of controllers

34Notification of acquisition of significant shareholding

35Prior notification of ceasing to be a relevant controller

36Information and production of documents

37Investigations on behalf of the Bank

Restrictions on disclosure of information

38Disclosure for facilitating discharge of functions by the Bank

39Disclosure for facilitating discharge of functions by other supervisory bodies

40Other permitted disclosures

41Information supplied to Bank by relevant overseas authority etc.

42Disclosure of information obtained under other Acts

Interpretation

43Meaning of “controller” and “associate”

44Meaning of “related company”

45Other interpretation of Banking Act

Miscellaneous

46Savings for certain institutions

47Other amendments of Banking Act

PART VAMENDMENTS OF FINANCIAL SERVICES ACT

48Authorisation by membership of recognised self-regulating organisations

49Applications for authorisation

50Grant and refusal of authorisation

51Authorisation in other member State

52Exempted persons

53Reciprocal facilities for banking business

54The Board’s functions under the Regulations

55Other amendments of Financial Services Act

56Construction of Part V

PART VIAMENDMENTS OF CONSUMER CREDIT ACT

57Effect of standard licence

58Grant of standard licence

59Conduct of business

60The register

61Enforcement of agreements

62Restrictions on disclosure of information

63Power to modify subordinate legislation in relation to European institutions

PART VIIAMENDMENTS OF INSURANCE COMPANIES ACT

64Withdrawal of authorisation

65Application of Part II of Act

66Meaning of “insurance business”

PART VIIIAMENDMENTS OF BUILDING SOCIETIES ACT

Constitution

67Establishment of building societies

68Initial authorisation to raise funds and borrow money

Powers of control of Commission

69Power to direct application to renew authorisation

70Imposition of conditions on current authorisation

71Revocation of authorisation

72Reauthorisation

73Criteria for prudent management

74Exercise of powers on information from supervisory authority

Information

75Power of Commission to obtain information and documents etc.

76Confidentiality of certain information obtained by Commission

77Information disclosed to Commission from other sources

Accounts and audit

78Accounting records and systems of business control etc.

Miscellaneous and supplemental

79Service of notices

80Meaning of “associate”

81Other interpretation of Building Societies Act

PART IXSUPPLEMENTAL

82Minor and consequential amendments

83Transitional provisions and savings

SCHEDULE 1ANNEX TO THE SECOND COUNCIL DIRECTIVE

SCHEDULE 2REQUIREMENTS AS RESPECTS EUROPEAN INSTITUTIONS

Requirements for carrying on activities etc.

1(1) In relation to the carrying on of a home-regulated...

2A notice given by an institution to the relevant supervisory...

3(1) A notice given in respect of a European authorised...

Requirements for changing requisite details of branch

4(1) Subject to sub-paragraph (2) below, the requirements of this...

Cancellation of compliance with certain requirements

5(1) The Bank may, on an application by a European...

SCHEDULE 3PROHIBITIONS AND RESTRICTIONS BY THE BANK

Preliminary

1In this Schedule— “prohibition” means a prohibition under regulation 9...

Notice of prohibition or restriction in non-urgent cases

2(1) Subject to paragraph 3 below, where the Bank proposes,...

Notice of prohibition or restriction in urgent cases

3(1) No notice need be given in accordance with paragraph...

Appeals

4(1) Section 27 of the Banking Act (rights of appeal)...

Statement of principles

5(1) The Bank shall, as soon as practicable after the...

SCHEDULE 4PROHIBITIONS BY THE BOARD

Notice of prohibition

1(1) Where the Board proposes— (a) to impose a prohibition...

References to the Financial Services Tribunal

2Section 97 of the Financial Services Act (references to the...

3(1) Section 98 of the Financial Services Act (decisions on...

4(1) Subsection (2) of section 100 of the Financial Services...

SCHEDULE 5PROHIBITIONS AND RESTRICTIONS BY THE DIRECTOR

Preliminary

1In this Schedule— “appeal period” has the same meaning as...

Notice of prohibition or restriction

2(1) This paragraph applies where the Director proposes, in relation...

Application to revoke prohibition or restriction

3(1) This paragraph applies where the Director proposes to refuse...

Representations to Director

4(1) Where this paragraph applies to an invitation by the...

Appeals

5Section 41 of the Consumer Credit Act (appeals to the...

SCHEDULE 6REQUIREMENTS AS RESPECTS UK INSTITUTIONS

Requirements for carrying on activities etc.

1(1) In relation to the carrying on of a home-regulated...

2A notice given by an institution to the UK authority...

3(1) The notice which, subject to paragraph 4 below, the...

4(1) Where the institution’s notice under paragraph 2 above states...

Requirements for changing requisite details of branch

5(1) Subject to sub-paragraph (2) below, the requirements of this...

6(1) The UK authority shall, within the period of one...

Cancellation of compliance with certain requirements

7(1) The UK authority may, on an application by a...

Appeals

8(1) Section 27 of the Banking Act (rights of appeal)...

9(1) Section 46 of the Building Societies Act (rights of...

SCHEDULE 7RESTRICTIONS BY THE UK AUTHORITY

Preliminary

1In this Schedule “restriction” means a restriction under regulation 23...

Notice of restriction in non-urgent cases

2(1) Subject to paragraph 3 below, where the UK authority...

Notice of restriction in urgent cases

3(1) No notice need be given in accordance with paragraph...

Appeals

4Section 27 of the Banking Act (rights of appeal) shall...

5(1) Section 46 of the Building Societies Act (rights of...

Statement of principles

6(1) The Bank shall, as soon as practicable after the...

SCHEDULE 8AMENDMENTS OF BANKING ACT

Preliminary

1In this Schedule— “the Act” means the Banking Act; “former...

The Bank and the Board of Banking Supervision

2Section 1 of the Act (functions and duties of the...

3Section 2 of the Act (the Board of Banking Supervision)...

Meaning of “deposit”

4Section 5 of the Act (meaning of “deposit”) shall have...

Authorisations

5(1) Section 17 of the Act (information as to authorised...

6(1) Section 18 of the Act (false statements as to...

Invitations to make deposits

7Section 33 of the Act (advertisement directions) shall have effect...

Information

8(1) Section 39 of the Act (power to obtain information...

9(1) Section 40 of the Act (right of entry to...

Investigations

10(1) Section 41 of the Act (investigations on behalf of...

Accounts and auditors

11Section 45 of the Act (audited accounts to be open...

12Section 47 of the Act (communications by auditor etc. with...

The deposit protection scheme

13Section 50 of the Act (the Deposit Protection Board) shall...

14(1) Subject to sub-paragraph (2) below, section 52 of the...

15Section 58 of the Act (compensation payments to depositors) shall...

16Section 60 of the Act (protected deposits) shall have effect...

Banking names and descriptions

17Section 68 of the Act (exemptions from section 67) shall...

18Section 69 of the Act (restriction on use of banking...

19(1) Section 70 of the Act (power to object to...

20Section 71 of the Act (effect of notices under section...

Overseas institutions

21Section 74 of the Act (meaning of “overseas institution” and...

Disclosure of information

22Section 82 of the Act (restrictions on disclosure) shall have...

23Section 83 of the Act (disclosure for facilitating discharge of...

24Section 84 of the Act (disclosure for facilitating discharge of...

25Section 86 of the Act (information supplied to Bank by...

26Section 87 of the Act (disclosure of information obtained under...

Miscellaneous and supplementary

27Section 93 of the Act (injunctions) shall have effect as...

28Section 94 of the Act (false and misleading information) of...

29Section 95 of the Act (restriction of Rehabilitation of Offenders...

30Section 99 of the Act (service of notices on Bank)...

31Section 100 of the Act (service of other notices) shall...

32(1) Section 101 of the Act (evidence) shall have effect...

33Section 106 of the Act (interpretation) shall have effect as...

SCHEDULE 9AMENDMENTS OF FINANCIAL SERVICES ACT

Preliminary

1In this Schedule— “the Act” means the Financial Services Act;...

Restriction on carrying on business

2Section 5 of the Act (agreements made by or through...

Authorised persons

3Section 10 of the Act (grant and refusal of recognition...

4Section 13 of the Act (alteration of rules of recognised...

5Section 28 of the Act (withdrawal and suspension of authorisation)...

6Section 32 of the Act (notice of commencement of business)...

Exempted persons

7Section 44 of the Act (appointed representatives) shall have effect...

8Section 45 of the Act (miscellaneous exemptions) shall have effect...

Conduct of business

9(1) Section 47A of the Act (statements of principle) shall...

10(1) Section 48 of the Act (conduct of business rules)...

11(1) Section 49 of the Act (financial resources rules) shall...

12(1) Section 51 of the Act (cancellation rules) shall have...

13(1) Section 52 of the Act (notification regulations) shall have...

14Section 53 of the Act (indemnity rules) shall have effect...

15Section 54 of the Act (compensation fund) shall have effect...

16Section 55 of the Act (clients' money) shall have effect...

17Section 57 of the Act (restrictions on advertising) shall have...

18Section 59 of the Act (employment of prohibited persons) shall...

19Section 60 of the Act (public statement as to person’s...

20Section 64 of the Act (scope of powers of intervention)...

21Section 65 of the Act (restriction of business) shall have...

22Section 66 of the Act (restriction on dealing with assets)...

23Section 67 of the Act (vesting of assets in trustee)...

Collective investment schemes

24Section 75 of the Act (collective investment schemes: interpretation) shall...

25Section 76 of the Act (restrictions on promotion) shall have...

26Section 93 of the Act (applications to the court) shall...

Information

27Section 102 of the Act (register of authorised persons etc.)...

28Section 104 of the Act (power to call for information)...

29Section 106 of the Act (exercise of investigation powers by...

Auditors

30Subsection (3) of section 107 of the Act (appointment of...

31Section 109 of the Act (communication by auditor with supervisory...

32Subsection (3) of section 110 of the Act (overseas business)...

Fees

33Section 113 of the Act (periodical fees) shall have effect...

Prevention of restrictive practices

34Section 119 of the Act (recognised self-regulating organisations, investment exchanges...

35Section 121 of the Act (designated agencies) shall have effect...

Relations with other regulatory authorities

36(1) Section 128C of the Act (enforcement in support of...

Official listing of securities

37Section 154 of the Act (advertisements etc. in connection with...

Offers of unlisted securities

38Section 171 of the Act (contraventions in relation to offers...

Insider dealing

39(1) Section 178 of the Act (penalty for failure to...

Restrictions on disclosure of information

40Section 179 of the Act (restrictions on disclosure of information)...

41Section 180 of the Act (exceptions from restriction on disclosure...

Miscellaneous and supplementary

42Section 191 of the Act (occupational pension schemes) shall have...

43Section 206 of the Act shall have effect as if...

Activities constituting investment business

44(1) Paragraph 17 of Schedule 1 to the Act (investments...

Requirements for recognition of self-regulating organisation

45(1) Paragraph 2 of Schedule 2 to the Act (requirements...

Qualifications of designated agency

46(1) Paragraph 4 of Schedule 7 to the Act (qualifications...

Principles applicable to designated agency’s legislative provisions

47Schedule 8 to the Act (principles applicable to designated agency’s...

SCHEDULE 10MINOR AND CONSEQUENTIAL AMENDMENTS

PART IPRIMARY LEGISLATION

Judicial Factors Act 1849 (c. 51)

1Section 5(1) of the Judicial Factors Act 1849 (factor to...

Bankers' Books Evidence Act 1879 (c. 11)

2Section 9(1) of the Bankers' Books Evidence Act 1879 (meaning...

Agricultural Credits Act 1928 (c. 43)

3Section 5(7) of the Agricultural Credits Act 1928 (meaning of...

Agricultural Credits (Scotland) Act 1929 (c. 13)

4Section 9(2) of the Agricultural Credits (Scotland) Act 1929 (meaning...

Superannuation Act 1972 (c. 11)

5Sections 1, 9 and 10 of the Superannuation Act 1972...

Superannuation (Northern Ireland) Order 1972 (S.I. 1972/1073 (N.I. 10))

6Articles 3, 11 and 12 of the Superannuation (Northern Ireland)...

Consumer Credit Act 1974 (c. 39)

7Section 16(1)(h) of the Consumer Credit Act 1974 (exclusion of...

Solicitors Act 1974 (c. 47)

8(1) Section 23(2) of the Solicitors Act 1974 (unqualified person...

Credit Unions Act 1979 (c. 34)

9Section 31(1) of the Credit Unions Act 1979 (interpretation) shall...

Crown Agents Act 1979 (c. 43)

10Section 8(5) of the Crown Agents Act 1979 (pre-funding of...

Solicitors (Scotland) Act 1980 (c. 46)

11Section 35(2) of the Solicitors (Scotland) Act 1980 (accounts rules)...

British Telecommunications Act 1981 (c. 38)

12Section 67(4) of the British Telecommunications Act 1981 (general classes...

Housing (Northern Ireland) Order 1981 (S.I. 1981/156 (N.I.3))

13In Schedule 10 to the Housing (Northern Ireland) Order 1981,...

Duchy of Cornwall Management Act 1982 (c. 47)

14Section 6(4) of the Duchy of Cornwall Management Act 1982...

Data Protection Act 1984 (c. 35)

15Section 30 of the Data Protection Act 1984 (exemption for...

Companies Act 1985 (c. 6)

16Section 446 of the Companies Act 1985 (investigation of share...

Company Securities (Insider Dealing) Act 1985 (c. 8)

17Section 13 of the Company Securities (Insider Dealing) Act 1985...

Bankruptcy (Scotland) Act 1985 (c. 66)

18Section 73(1) of the Bankruptcy (Scotland) Act 1985 (interpretation) shall...

Housing Act 1985 (c. 68)

19Section 622 of the Housing Act 1985 (minor definitions: general)...

Housing Associations Act 1985 (c. 69)

20Section 106(1) of the Housing Associations Act 1985 (minor definitions:...

Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I.12))

21Article 2(2) of the Credit Unions (Northern Ireland) Order 1985...

Building Societies Act 1986 (c. 53)

22In the Building Societies Act— (a) section 7(4) (power to...

Financial Services Act 1986 (c. 60)

23In Part I of Schedule 5 to the Financial Services...

Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I.6))

24Article 439 of Companies (Northern Ireland) Order 1986 (investigation of...

Company Securities (Insider Dealing) (Northern Ireland) Order 1986 (S.I. 1986/1034 (N.I.8))

25Article 7 of Company Securities (Insider Dealing) (Northern Ireland) Order...

Housing (Scotland) Act 1987 (c. 26)

26Section 338(1) of the Housing (Scotland) Act 1987 (minor definitions:...

Consumer Protection Act 1987 (c. 43)

27Section 22 of the Consumer Protection Act 1987 (application to...

Consumer Protection (Northern Ireland) Order 1987 (S.I. 1987/2049 (N.I. 20))

28Article 15 of the Consumer Protection (Northern Ireland) Order 1987...

Companies Act 1989 (c. 40)

29Section 176 of the Companies Act 1989 (power to make...

Local Government and Housing Act 1989 (c. 42)

30Section 43(2) of the Local Government and Housing Act 1989...

Courts and Legal Services Act 1990 (c. 41)

31In the Courts and Legal Services Act 1990—

Companies (No.2) (Northern Ireland) Order 1990 (S.I. 1990/1504 (N.I.10))

32Article 98 of the Companies (No.2) (Northern Ireland) Order 1990...

Charities Act 1992 (c. 41)

33Section 18(8) of the Charities Act 1992 (dormant bank accounts...

PART IISUBORDINATE LEGISLATION

National Savings Stock Register Regulations 1976 (S.I. 1976/2012)

34Regulation 30(1A) of the National Savings Stock Register Regulations 1976(minors)...

Estate Agents (Accounts) Regulations 1981 (S.I. 1981/1520)

35In the Schedule to the Estate Agents (Accounts) Regulations 1981...

Building Societies (Mobile Homes) Order 1986 (S.I. 1986/1877)

36Article 2 of the Building Societies (Mobile Homes) Order 1986(interpretation)...

Insolvency Regulations 1986 (S.I. 1986/1994)

37Regulation 2 of the Insolvency Regulations 1986(interpretation) shall have effect...

Money Purchase Contracted-out Schemes Regulations 1987 (S.I. 1987/1101)

38In the Schedule to the Money Purchase Contracted-out Schemes Regulations...

Local Government Superannuation (Scotland) Regulations 1987 (S.I. 1987/1850)

39Regulation P6(4)(b)(iii) of the Local Government Superannuation (Scotland) Regulations 1987(use...

Data Protection (Regulation of Financial Services etc.) (Subject Access Exemption) Order 1987 (S.I. 1987/1905)

40(1) Schedule 1 to the Data Protection (Regulation of Financial...

Friendly Societies (Long Term Insurance Business) Regulations 1987 (S.I. 1987/2132)

41Regulation 34 of the Friendly Societies (Long Term Insurance Business)...

Money Purchase Contracted-out Schemes Regulations (Northern Ireland) 1987 (S.R.(N.I.) 1987/279)

42In the Schedule to the Money Purchase Contracted-out Schemes Regulations...

Personal Pension Schemes (Appropriate Schemes) Regulations 1988 (S.I. 1988/137)

43Regulation 3(3) of the Personal Pension Schemes (Appropriate Schemes) Regulations...

Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1988 (S.I. 1988/316)

44Article 9 of the Financial Services Act 1986 (Investment Advertisements)...

Banking Act 1987 (Advertisements) Regulations 1988 (S.I. 1988/645)

45Regulation 2 of the Banking Act 1987 (Advertisements) Regulations 1988...

Banking Act 1987 (Exempt Transactions) Regulations 1988 (S.I. 1988/646)

46(1) In the Banking Act 1987 (Exempt Transactions) Regulations 1988—...

Security (Payments on Account, Overpayments and Recovery) Regulations 1988 (S.I. 1988/664)

47Regulation 10 of the Social Security (Payments on Account, Overpayments...

Public Companies (Disclosure of Interests in Shares) (Investment Management Exclusion) Regulations 1988 (S.I. 1988/706)

48Regulation 3 of the Public Companies (Disclosure of Interests in...

Services Act 1986 (Investment Advertisements) (Exemptions) (No. 2) Order 1988 (S.I. 1988/716)

49Article 7 of the Financial Services Act 1986 (Investment Advertisements)...

Building Societies (Supplementary Capital) Order 1988 (S.I. 1988/777)

50In Part III of the Schedule to the Building Societies...

Control of Misleading Advertisements Regulations 1988 (S.I. 1988/915)

51Regulation 3 of the Control of Misleading Advertisements Regulations 1988...

Personal Pension Schemes (Appropriate Schemes) Regulations (Northern Ireland) 1988 (S.R.(N.I.) 1988/34)

52Regulation 3(3)(c) of the Personal Pension Schemes (Appropriate Schemes) Regulations...

Security (Payments on Account, Overpayments and Recovery) Regulations (Northern Ireland) 1988 (S.R.(N.I.) 1988/142)

53Regulation 10 of the Social Security (Payments on Account, Overpayments...

Consumer Credit (Exempt Agreements) Order 1989 (S.I. 1989/869)

54Article 2(2) of the Consumer Credit (Exempt Agreements) Order 1989...

Consumer Credit (Advertisements) Regulations 1989 (S.I.1989/1125)

55Regulation 2(3) of the Consumer Credit (Advertisements) Regulations 1989 (general...

Consumer Credit (Quotations) Regulations 1989 (S.I. 1989/1126)

56Regulation 2(5) of the Consumer Credit (Quotations) Regulations 1989 (form...

Collection Fund (England) Regulations 1989 (S.I. 1989/2336)

57Schedule 2 to the Collection Fund (England) Regulations 1989 (prescribed...

Collection Fund (Wales) Regulations 1989 (S.I. 1989/2363)

58Schedule 2 to the Collection Fund (Wales) Regulations 1989 (prescribed...

Local Authorities (Capital Finance) (Approved Investments) Regulations 1990 (S.I. 1990/426)

59Regulation 2 of the Local Authorities (Capital Finance) (Approved Investments)...

Building Societies (Designation of Qualifying Bodies) Order 1990 (S.I. 1990/1434)

60In Part II of the Schedule to the Building Societies...

Building Societies (Designation of Qualifying Bodies) Order 1991 (S.I. 1991/357)

61In Part II of the Schedule to the Building Societies...

Building Societies (Designated Capital Resources) (Permanent Interest Bearing Shares) Order 1991 (S.I. 1991/702)

62Article 4(4) of the Building Societies (Designated Capital Resources) (Permanent...

Building Societies (Designation of Qualifying Bodies) (No.2) Order 1991 (S.I. 1991/2581)

63In Part II of the Schedule to the Building Societies...

Insolvency Regulations (Northern Ireland) 1991 (S.R.(N.I.) 1991/388)

64Regulation 2 of the Insolvency Regulations (Northern Ireland) 1991 (interpretation)...

Building Societies (Designation of Qualifying Bodies) Order 1992 (S.I. 1992/649)

65In Part II of the Schedule to the Building Societies...

Building Societies (Designation of Qualifying Bodies) (No.2) Order 1992 (S.I. 1992/650)

66In Part II of the Schedule to the Building Societies...

Building Societies (Designation of Qualifying Bodies) (No.3) Order 1992 (S.I. 1992/651)

67In Part II of the Schedule to the Building Societies...

Building Societies (Designation of Qualifying Bodies) (No.4) Order 1992 (S.I. 1992/652)

68In Part II of the Schedule to the Building Societies...

SCHEDULE 11TRANSITIONAL PROVISIONS AND SAVINGS

PART IRECOGNITION OF INSTITUTIONS

European authorised institutions

1(1) This paragraph applies to a credit institution incorporated in...

UK authorised institutions

2(1) This paragraph applies to a credit institution incorporated in...

3(1) An institution which by virtue of paragraph 2 above...

PART IIAMENDMENTS OF BANKING ACT

Requirement as to minimum initial capital

4(1) This paragraph applies to a credit institution incorporated in...

Revocation of authorisation

5(1) This paragraph applies to a credit institution incorporated in...

Restriction of authorisation

6(1) This paragraph applies to a credit institution incorporated in...

Information and documents

7Where a notice served on an institution to which paragraph...

PART IIIAMENDMENTS OF FINANCIAL SERVICES ACT

Preliminary

8(1) Any reference in this Part of this Schedule to...

Statements of principle

9(1) A statement of principle issued under section 47A of...

Conduct of business rules

10(1) Rules made under section 48 of the Financial Services...

Financial resources rules

11If the Board is satisfied that it is necessary to...

Cancellation rules

12(1) Rules made under section 51 of the Financial Services...

Notification regulations

13(1) Regulations made under section 52 of the Financial Services...

Compensation fund

14(1) Rules under section 54 of the Financial Services Act...

Clients' money

15(1) Regulations under section 55 of the Financial Services Act...

Unsolicited calls

16(1) Regulations under section 56 of the Financial Services Act...

Supplemental

17(1) An order under this Part of this Schedule may...

PART IVAMENDMENTS OF BUILDING SOCIETIES ACT

Requirements as to qualifying capital and own funds

18(1) This paragraph applies to a building society which immediately...

Revocation of authorisation

19(1) This paragraph applies to a building society which immediately...

1992 No. 3218

BANKING

The Banking Coordination (Second Council Directive) Regulations 1992

Made16th December 1992

Coming into force1st January 1993

Whereas the Treasury are a government department designated1 for the purposes of section 2(2) of the European Communities Act 19722 in relation to measures relating to credit and financial institutions and to the taking of deposits or other repayable funds from the public;

And whereas a draft of these Regulations has been approved by a resolution of each House of Parliament pursuant to section 2(2) of and paragraph 2(2) of Schedule 2 to that Act;

Now, therefore, the Treasury in exercise of the powers conferred on them by section 2(2) of that Act and of all other powers enabling them in that behalf hereby make the following Regulations:—