Statutory Instruments
2009 No. 296 (C. 14)
Banks And Banking
The Banking Act 2009 (Commencement No. 1) Order 2009
Made
16th February 2009
In exercise of the powers conferred by section 263(1) and (3) of the Banking Act 2009( 1 ), the Treasury make the following Order:
Citation and interpretation
1. —(1) This Order may be cited as the Banking Act 2009 (Commencement No. 1) Order 2009.
(2) In this Order, “the Act” means the Banking Act 2009.
Provisions conferring power to make secondary legislation etc
2. To the extent that the provisions in the Schedule to this Order confer or relate to the power to make subordinate legislation or codes of practice, those provisions come into force on 17th February 2009 for the purpose of enabling subordinate legislation or codes of practice to be made; but no such subordinate legislation or codes of practice may come into force before 21st February 2009.
Provisions of the Act coming into force on 21st February 2009
3. The provisions of the Act listed in the Schedule to this Order come into force on 21st February 2009.
Dave Watts
Frank Roy
Two of the Lords Commissioners of Her Majesty’s Treasury
16th February 2009
SCHEDULE
1. Sections 1 to 89 (Part 1 of the Act: the special resolution regime)
2. Sections 90 to 135 (Part 2 of the Act: bank insolvency)
3. Sections 136 to 168 (Part 3 of the Act: bank administration)
4. Sections 169, 171, and 173 to 180 (provisions relating to the Financial Services Compensation Scheme)
5. Sections 228 to 231 (Treasury support for banks)
6. Sections 232 to 236 (investment banks)
7. Section 237 (Banking (Special Provisions)Act 2008, compensation: valuer)
8. Sections 244 to 247 (provisions relating to the Bank of England)
9. Sections 248 to 250 (provisions relating to the Financial Services Authority)
10. Section 251 (financial assistance to building societies)
11. Sections 252 and 253 (registration of charges and registration of charges: Scotland)
12. Section 257 (meaning of “financial assistance”)
13. Section 258 (meaning of “enactment”)
14. Section 259 (statutory instruments)
15. Section 260 (money)
16. Section 261(index of defined terms)
17. Section 262 (repeal)
2009 c.1 .
Part 3 may also be applied by regulations made by the Treasury in accordance with section 152 (property transfer from temporary public ownership) and cases where there are multiple transferees (section 149 of the Act (general modification of this Part)).