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Version date: 29 August 2023 - onwards
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Schedule 9, Part 2 Amendments to Part 6 of the Financial Services (Banking Reform) Act 2013 (paras. 2-9)

Section 55

2 Part 6 of the Financial Services (Banking Reform) Act 2013 (special administration for operators of certain infrastructure systems) is amended as follows.

3 In section 111 (financial market infrastructure administration), in the heading, after "market" insert "and cash".

4

(1) Section 112 (interpretation: infrastructure companies) is amended as follows.

(2) In subsection (2), omit the "or" at the end of paragraph (b) and insert -

"(ba) a person recognised for the purposes of Part 5A of the Banking Act 2009 (wholesale cash distribution) as having systemic significance, or".

(3) In subsection (4) -

(a) in paragraph (a), for "(2)(a) or (b)" substitute "(2)(a), (b) or (ba)";

(b) in paragraph (b), after "question" insert "or, in the case of a person falling within subsection (2)(ba), a relevant function".

(4) In subsection (6), in paragraph (b), for "(2)(a) or (b)" substitute "(2)(a), (b) or (ba)".

(5) After subsection (6) insert -

"(7) In subsection (4)(b), "relevant function"

Comparing proposed amendment...