Financial Services and Markets Act 2023 · PART 1 Amendments to the Banking Act 2009

33

Sch. 6 para. 33 · in force: yes

Captured statutory text (L5)

33

After section 203B (annual report) insert—

Policy statement(203C)

(1)The Bank of England must prepare a statement of the general policy it proposes to follow in relation to its oversight under this Part of —

(a)recognised payment systems that include arrangements using digital settlement assets,

(b)DSA service providers, and

(c)service providers as described in sections 206A and 206AA.

(2)Before issuing a statement of policy under this section, the Bank must consult the FCA.

(3)The Bank must —

(a)publish the statement on its website,

(b)send a copy to the Treasury, and

(c)review the statement from time to time and revise it if necessary (and paragraphs (a) and (b) apply to a revision).

(4)Nothing in this section is to be regarded as preventing the Bank of England from exercising any of its powers under this Part where it considers it necessary to do so by reason of urgency, before it has prepared a statement under this section.

Full captured verbatim text

After section 203B (annual report) insert—

Policy statement(203C) (1) The Bank of England must prepare a statement of the general policy it proposes to follow in relation to its oversight under this Part of —

(a) recognised payment systems that include arrangements using digital settlement assets,

(b) DSA service providers, and

(c) service providers as described in sections 206A and 206AA.

(2) Before issuing a statement of policy under this section, the Bank must consult the FCA.

(3) The Bank must —

(a) publish the statement on its website,

(b) send a copy to the Treasury, and

(c) review the statement from time to time and revise it if necessary (and paragraphs (a) and (b) apply to a revision).

(4) Nothing in this section is to be regarded as preventing the Bank of England from exercising any of its powers under this Part where it considers it necessary to do so by reason of urgency, before it has prepared a statement under this section.

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

Bank of England must prepare, publish, and maintain an oversight policy statement regarding digital settlement assets, DSA service providers, and connected providers.

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

Refers to

No captured references.

Referred to by

schedule ref schedule_ref · Sch. 2 para. 72

Part summaries

0 of 0 parts have a verified summary.

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

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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 1 Amendments to the Banking Act 2009
Version: 86372fb4e615f9918e757dfa…
Content hash: sha256 6c4fbf438cbc90f718c861c5…
Source: legislation.gov.uk/ukpga/2023/29