[83A Modifications of Part]
Banking Act 2009 (2009 c 1) | Legislation

[Chapter 5
Special cases]

[Banks not regulated by PRA]

[83A  Modifications of Part]

[(1)     In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.

(2)     In this section—

“FCA-regulated bank” means a bank which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000;

“immediate group” has the meaning given by section 421ZA of the Financial Services and Markets Act 2000;

“PRA-authorised person” has the meaning given by section 2B(5) of that Act.

TABLE OF MODIFICATIONS
ProvisionModification
[Section 3Treat the definition of “normal insolvency proceedings” in subsection (1) as including investment bank special administration established by the Investment Bank Special Administration Regulations 2011 (SI 2011/245).]
[Section 6ATreat the reference to the PRA in subsections (3)(a) and (7) as references to the FCA.]
[Section 6CSubsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.]
Section 7(a)     Treat the references to the PRA in subsections [(1), (5A), (5C), (5D) and (5F)] as references to the FCA.
() < . . . >
(c)     If the bank has as a member
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