Any power which the [F3216 FCA, the PRA or the Bank of EnglandF3216] has under any provision of this Act is not limited in any way by any other power which it has under any other provision of this Act.F3213]
Definitions used in section 415A
- the FCA
(2) The Financial Conduct Authority is in this Act referred to as “the FCA”.
Defined in s.1A(2) · see it in the full Act“the FCA” means the Financial Conduct Authority;
Defined in s.417(1) · see it in the full Act- the PRA
“the PRA” means the Prudential Regulation Authority;
Defined in s.417(1) · see it in the full Act- Bank of England
“Bank of England” is to be read in accordance with section 2A(4) to (6);
Defined in s.417(1) · see it in the full Act
Cases considering section 415A (3)
The Financial Conduct Authority v BlueCrest Capital Management
Precludes the powers conferred by sections 55L and 55N(5) from being limited or restricted by the separate powers expressed in section 404F(7) (see para [74]).
Bluecrest Capital Management (UK) LLP v The Financial Conduct Authority
Limits section 415A to confirming that one statutory power is not limited by another; it does not determine the substantive construction of the powers or exclude limits arising from the statutory scheme. (see paras [225]; [259]-[260]; [317])
British Bankers Association, R (on the application of) v The Financial Services Authority & Anor
The provision states that one statutory power does not limit another. The court treated it as a modest indication against implying that section 404 excluded the FSA’s other lawful powers (see paras [193]; [222]; [250]).
What each judgment says about section 415A is in the case-law panel in the full Act.
Amendments and notes
3 notes from legislation.gov.uk
Amendments
- F3215Words in s. 415A heading substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 25(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
- F3216Words in s. 415A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 25(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
- F3213S. 415A and preceding cross-heading inserted (8.4.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(1)(l), Sch. 2 para. 30