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Version date: 1 August 2014 - onwards
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101. Application to investment firms

(1) The Banking Act 2009 is amended as follows.

(2) In section 1 (overview), after the entry in the Table relating to sections 84 to 89 insert -

"Section 89A

Investment firms".

(3) In section 2 (interpretation: "bank"), at the end insert -

"(8) Section 89A applies this Part to investment firms with modifications."

(4) In section 75(5) (power to change law: application to other institutions), omit the "or" following paragraph (c) and after that paragraph insert -

"(ca) to investment firms,".

(5) After section 89 (and in Part 1) insert -

"Investment firms

89A Application to investment firms

(1) This Part applies to investment firms as it applies to banks, subject to the modifications in subsection (2).

(2) Ignore sections 1(2)(b), 4(2)(b) and (6), 5(1)(b), 7(7), 8(2)(c) and 14(5)."

(6) After section 159 insert -

"159A Application to investment firms

This Part applies to investment firms as it applies to banks."

(7) After section 258 insert -

"258A Investment firm"

(1) In this A

Comparing proposed amendment...