The Financial Services (Banking Reform) Act 2013 (Commencement No. 6) Order 2014

• Citation: S.I. 2014/2458
• Sections: 3

Section 1 Citation and interpretation

(1) This Order may be cited as the Financial Services (Banking Reform) Act 2013 (Commencement No. 6) Order 2014.

(2) In this Order, “ the Act ” means the Financial Services (Banking Reform) Act 2013.

Section 2 Appointed days for the coming into force of certain provisions of the Act

1st November 2014 is the day appointed for the coming into force of—

(a) the following provisions of the Act for the purpose of enabling the Payment Systems Regulator, established under section 40 of the Act, to carry out functions under section 52 of the Competition Act 1998 —

(i) section 61 (the Regulator’s functions under the Competition Act 1998); and

(ii) section 67(2) (amendments relating to the Regulator’s competition powers); and

(b) section 129 of the Act, so far as it introduces the following provisions of Schedule 8 to the Act (functions of FCA under competition legislation)—

(i) for the purpose of enabling the Financial Conduct Authority to carry out functions under section 52 of the Competition Act 1998—

(aa) paragraph 3, so far as it inserts new sections 234J and 234M into the Financial Services and Markets Act 2000 ; and

(bb) paragraph 9; and

(ii) for all purposes—

(aa) paragraph 3, so far as it inserts new sections 234N and 234O into the Financial Services and Markets Act 2000; and

(bb) paragraphs 4, 5 and 7.

Section 3 Appointed days for the coming into force of certain provisions of the Act

1st April 2015 is the day appointed for the coming into force of—

(a) section 62 of the Act (duty to consider exercise of powers under Competition Act 1998); and

(b) the following provisions, so far as they are not already in force—

(i) section 60 of the Act (restrictions on exercise of functions under Part 4 of the Enterprise Act 2002);

(ii) section 61 of the Act (the Regulator’s functions under the Competition Act 1998);

(iii) section 67 of the Act (amendments relating to the Regulator’s competition powers);

(iv) section 129 of the Act (functions of FCA under competition legislation); and

(v) Schedule 8 to the Act (functions of FCA under competition legislation).