Citation 2009 c 1 | Royal assent 12 February 2009 | |
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Long title An Act to make provision about banking. Introduced by Alistair Darling (Chancellor of the Exchequer) and Lord Davies of Oldham Territorial extent England and Wales
Scotland
Northern Ireland
(Sections 253 and 254 extend to Scotland only) Commencement Certain provisions on 21 February 2009 | ||
The Banking Act 2009 (c 1) is an Act of the Parliament of the United Kingdom that entered into force in part on the 21 February 2009 in order, amongst other things, to replace the Banking (Special Provisions) Act 2008. The Act makes provision for the nationalisation of banks, amends the law on bank insolvency and administration, and makes provision about the Financial Services Compensation Scheme. It also makes provision about the regulation of inter-bank payment schemes (e.g. BACS), amends the law on the issue of banknotes by Scottish and Northern Irish banks, and makes other miscellaneous amendments to the law on banking.
References
Banking Act 2009 Wikipedia(Text) CC BY-SA