Bank of England and Financial Services Act 2016 (c. 14)

Version status: Partly in force | Document consolidation status: Updated to reflect all known changes

Published date: 4 May 2016

Bank of England and Financial Services Act 2016 (c. 14)

	Introductory Text
	Part 1 The Bank of England (ss. 1-17)
	Governance (ss. 1-8)
	1. Membership of court of directors
	2. Term of office of non-executive directors
	3. Abolition of Oversight Committee
	4. Functions of non-executive directors
	5. Financial stability strategy
	6. Financial Policy Committee: status and membership
	7. Monetary Policy Committee: membership
	8. Monetary Policy Committee: procedure
	Financial arrangements (ss. 9-11)
	9. Audit
	10. Activities indemnified by Treasury
	11. Examinations and reviews
	Prudential Regulation (ss. 12-15)
	12. Bank to act as Prudential Regulation Authority
	13. Prudential Regulation Committee
	14. Accounts relating to Bank's functions as Prudential Regulation Authority
	15. Transfer of property etc to Bank
	Consequential and transitional provision (ss. 16-17)
	16. Amendments relating to Part 1
	17. Saving and transitional provision relating to Part 1
	Part 2 Financial Services (ss. 18-37)
	The Regulators (ss. 18-20)
	18. Appointment of Financial Conduct Authority chief executive
	19. Treasury recommendations to Financial Conduct Authority
	20. Regulatory principles: diversity
	Conduct of persons working in financial services sector (ss. 21-26)
	21. Extension of relevant authorised persons regime to all authorised persons
	22. Rules about controlled functions: power to make transitional provision
	23. Administration of senior managers regime
	24. Rules of conduct
	25. Misconduct
	26. Decisions causing a financial institution to fail: meaning of insolvency
	Enforceability of agreements (ss. 27-28)
	27. Enforceability of agreements relating to credit
	28. Enforceability of agreements made through unauthorised persons
	Illegal money lending (s. 29)
	29. Illegal money lending
	Money laundering and terrorist financing (s. 30)
	30. Money laundering and terrorist financing
	Transformer vehicles (s. 31)
	31. Transformer vehicles
	Pensions (ss. 32-35)
	32. Pensions guidance
	33. Advice about transferring or otherwise dealing with annuity payments
	34. Independent advice on conversions and transfers of pension benefits: appointed representatives
	35. Early exit pension charges
	Information about resolution planning (s. 36)
	36. Duty of Bank to provide information to Treasury
	Financial Services and Markets Act 2000 consequential amendments (s. 37)
	37. Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001
	Part 3 Miscellaneous and General (ss. 38-42)
	Banknotes in Scotland and Northern Ireland (s. 38)
	38. Banks authorised to issue banknotes in Scotland and Northern Ireland
	General (ss. 39-42)
	39. Consequential provision
	40. Extent
	41. Commencement
	42. Short title
	Schedule 1 Prudential Regulation Committee
	Schedule 2 Amendments relating to Part 1
	Schedule 2, Part 1 Bank of England Act 1998 (paras. 1-22)
	Schedule 2, Part 2 Other Acts (paras. 23-68)
	Schedule 3 Saving and transitional provision relating to Part 1
	Schedule 4 Extension of relevant authorised persons regime to all authorised persons