Bank of England Act 1998

Chapter IBanking Act 1987

1The [1987 c. 22.] Banking Act 1987 is amended as follows.

2In section 1—

(a)in subsection (1), for the words from the beginning to ““Bank”)” there is substituted “The Financial Services Authority (in this Act referred to as “the Authority”)”,

(b)in subsections (2) and (3), for “Bank” there is substituted “Authority”, and

(c)in subsection (4)—

(i)for the words from the beginning to “Bank”, in the second place where it occurs, there is substituted “Neither the Authority nor any person who is, or is acting as, an officer or servant of the Authority”, and

(ii)for “Bank”, in the third place where it occurs, there is substituted “Authority”.

3In sections 3(1) and 4(3), for “Bank” there is substituted “Authority”.

4In sections 7 to 10, for “Bank”, wherever occurring, there is substituted “Authority”.

5In section 11—

(a)for “Bank”, wherever occurring, except subsection (1A)(c), there is substituted “Authority”, and

(b)in subsection (1A)(c)—

(i)for “the Bank is informed by The Securities and Investments Board, or” there is substituted “it appears to the Authority, or the Authority is informed by”, and

(ii)in paragraph (ii), for “that Board or” there is substituted “the Authority or that”.

6In section 12—

(a)for “Bank”, wherever occurring, there is substituted “Authority”, and

(b)in subsection (1)(a), for “Bank's” there is substituted “Authority's”.

7In sections 12A to 17, for “Bank”, wherever occurring, there is substituted “Authority”.

8In section 19—

(a)for “Bank”, wherever occurring, there is substituted “Authority”, and

(b)in subsection (3), for “Bank's” there is substituted “Authority's”.

9In sections 20 to 27, for “Bank”, wherever occurring, there is substituted “Authority”.

10In section 29—

(a)for “Bank”, wherever occurring, there is substituted “Authority”, and

(b)in subsection (3), for “Bank's”, in both places, there is substituted “Authority's”.

11In sections 30 to 34 and 36 to 42, for “Bank”, wherever occurring, there is substituted “Authority”.

12In section 43(1)—

(a)for “Bank” there is substituted “Authority”, and

(b)for “Bank's” there is substituted “Authority's”.

13In sections 46 to 49, for “Bank”, wherever occurring, there is substituted “Authority”.

14In sections 52(2A), 58(2A)(b), 59(1)(a) and (4), 65(1), 67(6), 68(7) and 69(7), for “Bank” there is substituted “Authority”.

15In sections 70 to 72 and 75, for “Bank”, wherever occurring, there is substituted “Authority”.

16In section 76—

(a)for “Bank”, wherever occurring, there is substituted “Authority”, and

(b)in subsection (3)(b), for “Bank's” there is substituted “Authority's”.

17In sections 77 to 80, for “Bank”, wherever occurring, there is substituted “Authority”.

18In sections 92 to 96, 99 to 101 and 105, for “Bank”, wherever occurring, there is substituted “Authority”.

19In section 106(1)—

(a)in the definition of “authorisation”, for “Bank” there is substituted “Authority”,

(b)after that definition there is inserted—

““the Authority” means the Financial Services Authority;”, and

(c)in the definition of “relevant supervisory authority”, in paragraph (b), for “Bank” there is substituted “Authority”.

20In Schedule 3, for “Bank”, wherever occurring, there is substituted “Authority”.