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Financial Services (Banking Reform) Act 2013 (Commencement No 1) Order 2014 published

On 24 February 2014, The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) Order 2014 was published, bringing into force various provisions of the Banking Reform Act, including those set out below:

Commencement Date

Provision

Description

1 March 2014

Section 6 and Schedule 1 Ring-fencing transfer schemes

1 March 2014

Sections 14 and 15 Financial Services Compensation Scheme governance

1 March 2014

Sections 39-58, 68-110 and Schedules 4 and 5 Payment Systems Regulator

1 March 2014

Section 130 PRA’s competitive objective

1 April 2014

Section 16 Financial Services Compensation Scheme governance

The Order also brings into force certain provisions of the Banking Reform Act for the purposes of making rules, orders or regulations, including those set out below:

Commencement Date

Provision

Description

1 March 2014

Section 4 Ring-fencing

1 March 2014

Section 17 Bail-in

1 March 2014

Section 121 (partially) Financial market infrastructure administration regime

 

 

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