Financial Services and Markets Act 2023 · PART 9 Treasury support for CCPs

158 National Loans Fund

Sch. 11 para. 158 · in force: yes

Captured statutory text (L5)

158 National Loans Fund

(1)Where the Treasury propose to make a loan to or in respect of a CCP, they may arrange for money to be paid out of the National Loans Fund.

(2)The Treasury may make arrangements under sub-paragraph (1) only where they think it necessary to make the loan urgently in order to protect the stability of the UK financial system

(3)The Treasury may determine—

(a)the rate of interest on a loan, and

(b)other terms and conditions.

(4)Sums received by the Treasury in respect of loans by virtue of this paragraph must be paid into the National Loans Fund.

(5)Neither section 16 of the Banking (Special Provisions) Act 2008 (finance) nor any other enactment restricts the breadth of application of this paragraph.

(6)Where money is paid in reliance on sub-paragraph (1) the Treasury must as soon as is reasonably practicable lay a report before Parliament specifying the amount paid (but not the identity of the CCP or other institution to or in respect of which it is paid).

(7)If the Treasury think it necessary on public interest grounds, they may delay or dispense with a report under sub-paragraph (6).

Full captured verbatim text

(1) Where the Treasury propose to make a loan to or in respect of a CCP, they may arrange for money to be paid out of the National Loans Fund.

(2) The Treasury may make arrangements under sub-paragraph (1) only where they think it necessary to make the loan urgently in order to protect the stability of the UK financial system

(3) The Treasury may determine—

(a) the rate of interest on a loan, and

(b) other terms and conditions.

(4) Sums received by the Treasury in respect of loans by virtue of this paragraph must be paid into the National Loans Fund.

(5) Neither section 16 of the Banking (Special Provisions) Act 2008 (finance) nor any other enactment restricts the breadth of application of this paragraph.

(6) Where money is paid in reliance on sub-paragraph (1) the Treasury must as soon as is reasonably practicable lay a report before Parliament specifying the amount paid (but not the identity of the CCP or other institution to or in respect of which it is paid).

(7) If the Treasury think it necessary on public interest grounds, they may delay or dispense with a report under sub-paragraph (6).

What this provision means

Model summary, checked against the text on the left.

Relevance to Signicat: 1/3 · detailed summary (L4) Status: not needed for a short provision · Stored artifact; current recipe verification unavailable

The Treasury may make urgent loans to CCPs from the National Loans Fund and must report thereon to Parliament.

Only the one-line summary above is stored for this provision; the text itself is the evidence.

Refers to

schedule ref schedule_ref · Sch. 11 para. 158

Referred to by

schedule ref schedule_ref · Sch. 11 para. 139

schedule ref schedule_ref · Sch. 11 para. 140

schedule ref schedule_ref · Sch. 11 para. 149

schedule ref schedule_ref · Sch. 11 para. 157

schedule ref schedule_ref · Sch. 11 para. 158

schedule ref schedule_ref · Sch. 11 para. 159

schedule ref schedule_ref · Sch. 11 para. 160

schedule ref schedule_ref · Sch. 11 para. 162

schedule ref schedule_ref · Sch. 11 para. 163

schedule ref schedule_ref · s. 10

Part summaries

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L1 unavailable for current verification: the overall summary needs every part verified. Provisions and the verified summaries remain readable.

Verification findings (537)

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Instrument tier unavailable

Change history as published

No captured publisher history.

Pending effects amendments not yet applied to this text

s. 1(1) coming into force by The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025 reg. 9(a) · Effective date unknown · s. 1

Sch. 1 Pt. 1 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025 reg. 9(b) · Effective date unknown

Sch. 1 Pt. 3 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025 reg. 9(c) · Effective date unknown

Sch. 1 Pt. 5 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025 reg. 9(d)(i) · Effective date unknown

s. 1(1) coming into force by The Financial Services and Markets Act 2023 (Commencement No. 13) Regulations 2026 reg. 2(a) · Effective date unknown · s. 1

Show all 14

Sch. 1 Pt. 1 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 13) Regulations 2026 reg. 2(b) · Effective date unknown

s. 1(1) coming into force by The Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026 reg. 2(a) · Effective date unknown · s. 1

Sch. 1 Pt. 1 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026 reg. 2(b) · Effective date unknown

Sch. 1 Pt. 2 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026 reg. 2(c) · Effective date unknown

Sch. 1 Pt. 3 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026 reg. 2(d) · Effective date unknown

s. 1(1) coming into force by The Financial Services and Markets Act 2023 (Commencement No. 12 and Saving Provisions) Regulations 2026 reg. 3(a) · Effective date unknown · s. 1

Sch. 1 Pt. 1 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 12 and Saving Provisions) Regulations 2026 reg. 3(b) Sch. Pt. 1 · Effective date unknown

Sch. 1 Pt. 2 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 12 and Saving Provisions) Regulations 2026 reg. 3(c) · Effective date unknown

Sch. 1 Pt. 3 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 12 and Saving Provisions) Regulations 2026 reg. 3(d) Sch. Pt. 2 · Effective date unknown

Provenance

Every claim the system makes about this text is traceable to these identifiers.

Instrument: uk:ukpga/2023/29
Part: PART 9 Treasury support for CCPs
Version: 86372fb4e615f9918e757dfa…
Content hash: sha256 fa1e54b0a9f8c9905c3af39b…
Source: legislation.gov.uk/ukpga/2023/29