Financial Services and Markets Act 2023
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
75 Banking Act 2009: miscellaneous amendments
(1) The Banking Act 2009 is amended as follows. (2) In section 7A (effect on other group members, financial stability in UK etc)— (a) in subsection (1), for “(4)(b)(ii)” substitute “(4), (4B)(b),”; (b) after subsection (1) insert— (1A) Subsection (1) does not apply in relation to a requirement under section 3A(4) for a person to maintain (but not issue) a particular kind of bail-in liability. (3) In section 83ZD (appointment of person to carry out investigations in particular cases), in subsection (3)(a), for “83ZN” substitute “83ZR”. (4) In section 89H (recognition of third-country resolution actions), in subsection (7), in the definition of “third-country resolution action”— (a) in the words before paragraph (a), for “, third country parent undertaking or a bank, building society, credit union or investment firm” substitute “or third-country parent undertaking”; (b) in paragraph (a), omit “or a bank, building society, credit union or investment firm”. (5) In section 182 (interpretation: “payment system”)— (a) in subsection (1), after “arrangements” insert “, or proposed arrangements,”; (b) in subsection (5), after “operates” insert “, or is intended to operate,”. (6) In section 244 (immunity), in subsection (2)(c) after “2000,” insert “of its functions under, or as a result of regulations made under, the Financial Services and Markets Act 2023,”.
75 Banking Act 2009: miscellaneous amendments
(1) The Banking Act 2009 is amended as follows. (2) In section 7A (effect on other group members, financial stability in UK etc)— (a) in subsection (1), for “(4)(b)(ii)” substitute “(4), (4B)(b),”; (b) after subsection (1) insert— (1A) Subsection (1) does not apply in relation to a requirement under section 3A(4) for a person to maintain (but not issue) a particular kind of bail-in liability. (3) In section 83ZD (appointment of person to carry out investigations in particular cases), in subsection (3)(a), for “83ZN” substitute “83ZR”. (4) In section 89H (recognition of third-country resolution actions), in subsection (7), in the definition of “third-country resolution action”— (a) in the words before paragraph (a), for “, third country parent undertaking or a bank, building society, credit union or investment firm” substitute “or third-country parent undertaking”; (b) in paragraph (a), omit “or a bank, building society, credit union or investment firm”. (5) In section 182 (interpretation: “payment system”)— (a) in subsection (1), after “arrangements” insert “, or proposed arrangements,”; (b) in subsection (5), after “operates” insert “, or is intended to operate,”. (6) In section 244 (immunity), in subsection (2)(c) after “2000,” insert “of its functions under, or as a result of regulations made under, the Financial Services and Markets Act 2023,”.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.