52 The Banking Act 1987 [1987 c. 22.] is amended as follows.
(1) Section 83 is amended as follows.
(2) In subsection (1)-
(a) for "Bank" there is substituted "Authority",
(b) after paragraph (a) there is inserted-
"(aa) its functions in its capacity as a designated agency within the meaning of the Financial Services Act 1986 [1986 c. 60.]; or",
(c) paragraph (b) is omitted,
(d) in paragraph (c), the words "and gilt market" are omitted, and
(e) paragraph (d), and the word "or" immediately preceding it, are omitted.
(3) In subsections (2) and (3), for "Bank", wherever occurring, there is substituted "Authority".
(1) Section 84 is amended as follows.
(2) In subsection (1), for "Bank", in both places, there is substituted "Authority".
(3) In the Table in that subsection, after entry 4 there is inserted-
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Functions in its capacity as a monetary authority or supervisor of systems for the transfer of funds between credit institutions and th |