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The Banking Act 2009 (Restriction of Partial Property Transfers) (Amendment) Order 2009
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There are currently no known outstanding effects for the The Banking Act 2009 (Restriction of Partial Property Transfers) (Amendment) Order 2009, Section 3.
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AmendmentU.K.
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3. In article 1(3)—
(a)after the definition of “the Bank” insert—
““Banking Consolidation Directive” means Directive 2006/48/EC of the European Parliament and of the Council relating to the taking up and pursuit of the business of credit institutions(1);”;
(b)in paragraphs (c) and (d) of the definition of “excluded rights”—
(i)delete “solely”; and
(ii)after “instruments” insert “or an activity referred to in Annex I to the Banking Consolidation Directive”;
(c)at the end of paragraph (d) of the definition of “excluded rights” delete “or”;
(d)after paragraph (e) of the definition of “excluded rights” insert—
“or
(f)
which relate to transferable securities (other than transferable securities referred to or described in a set-off arrangement, netting arrangement or title transfer financial collateral arrangement referred to in article 3(1));”;
(e)in the definition of “financial instrument”—
(i)the words from “any instrument” to the end become paragraph (a);
(ii)for the words from “Directive” to “instruments” substitute “the Markets in Financial Instruments Directive”;
(iii)at the end insert—
“(b)any option, future, swap, forward, contract for differences or other derivative contract not falling within paragraph (a); and
(c)any combination of any of the foregoing;”;
(f)after the definition of “financial instrument” insert—
““Markets in Financial Instruments Directive” means Directive 2004/39/EC of the European Parliament and of the Council on markets in financial instruments(2);”;
(g)in the definition of “relevant authority” substitute “(a)” and “(b)” for “(f)” and “(g)” respectively;
(h)in the definition of “relevant financial instrument”—
(i)substitute “(a)”, “(b)”, “(c)” and “(d)” for “(h)”, “(i)”, “(j)” and “(k)” respectively;
(ii)after “loan;” delete “or”;
(iii)at the end insert—
“or
(e)
any contract for the sale, purchase or delivery of—
(i)
transferable securities;
(ii)
the currency of the United Kingdom or any other country, territory or monetary union;
(iii)
palladium, platinum, gold, silver or any other precious metal; or
(iv)
any other commodity; ”;
(i)in the definition of “retail deposit” substitute “(a)” and “(b)” for “(l)” and “(m)” respectively;
(j)after the definition of “title transfer financial collateral arrangements” insert—
“;
“transferable securities” has the meaning given by Article 4(18) of the Markets in Financial Instruments Directive”.
Commencement Information
I1Art. 3 in force at 9.7.2009, see art. 1
(1)
OJ L177 30.6.2006 p.1.
(2)
OJ L145 30.4.2004 p.1.
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