Financial Services (Banking Reform) Act 2013
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Change 1
14 Discharge of functions by the scheme manager
After section 224 of FSMA 2000 insert— Discharge of functions 224ZA (1) In discharging its functions the scheme manager must have regard to— (a) the need to ensure efficiency and effectiveness in the discharge of those functions, and (b) the need to minimise public expenditure attributable to loans made or other financial assistance given to the scheme manager for the purposes of the scheme. (2) In subsection (1)(b) “financial assistance” includes the giving of guarantees and indemnities and any other kind of financial assistance (actual or contingent).
14 Discharge of functions by the scheme manager
After section 224 of FSMA 2000 insert— Discharge of functions 224ZA (1) In discharging its functions the scheme manager must have regard to— (a) the need to ensure efficiency and effectiveness in the discharge of those functions, and (b) the need to minimise public expenditure attributable to loans made or other financial assistance given to the scheme manager for the purposes of the scheme. (2) In subsection (1)(b) “financial assistance” includes the giving of guarantees and indemnities and any other kind of financial assistance (actual or contingent).
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