Banking Coordination (Second Council Directive) (Amendment) Regulations 1993
| Jurisdiction | UK Non-devolved |
| Citation | SI 1993/3225 |
| Year | 1993 |
1993 No. 3225
BANKING
The Banking Coordination (Second Council Directive)
(Amendment) Regulations 1993
Whereas the Treasury are a government department designated(a)for the purposes of section 2(2) of the European Communities Act 1972(b) in relation to measures relating to credit and financial institutions and to the taking of deposits or other repayable funds from the public;
Now, therefore, the Treasury in exercise of the powers conferred on them by section 2(2) of that Act and by section 2(2)(b) of the European Economic Area Act 1993(c) and of all other powers enabling them in that behalf hereby make the following Regulations:-
Citation and commencement
1.-(1) These Regulations may be cited as the Banking Coordination (Second Council Directive) (Amendment) Regulations 1993.
(2) These Regulations shall come into force on 1st January 1994.
Amendment of the principal Regulations
2. The Banking Coordination (Second Council Directive) Regulations 1992(d) are amended as follows:
(a) in regulation 2(1), after "1993" in the definition of "the commencement date" there are inserted the words "except in relation to the application of these Regulations as they have effect by virtue of section 2(1) of the European Economic Area Act 1993 to the carrying on by credit institutions and financial institutions incorporated in or formed under the law of a member State of the Communities of listed activities in a relevant EFTA State and to the carrying on by credit institutions and financial institutions incorporated in or formed under the law of a relevant EFTA State of listed activities in the European Economic Area, where it means 1st January 1994;";(b) in regulation 2(1), after the definitions of "member" and "rules "there are inserted the following:" "member State" means a member State of the Communities or a relevant EFTA State;";
" "relevant EFTA State" means any of Austria, Finland, Iceland, Norway and Sweden;";
(d) after regulation 2, the following regulation is added:"Iceland
2A.-(1) For the period commencing with 1st January 1994 and ending on the implementation date and subject to paragraph (2) below, wherever the expressions "another member State", "member State" and "relevant EFTA State" are used in these Regulations they have effect for the purposes of these Regulations as if they did not include a reference to Iceland.
(2) Paragraph (1) above does not apply to-
(a) the definition of "the commencement date" in regulation 2(1) above where it has effect in relation to the provisions described in sub-paragraph (e) below;(b) regulation 22(1), (2) and (3) below;(c) regulation 24(1) and (3) below;(d) paragraphs 1 to 7 of Schedule 6 to these Regulations;(e) paragraphs 2 and 3 of Schedule 11 to these Regulations;(f) the definitions of "another member State", "relevant supervisory authority" and "supervisory authority" in section 106 of the Banking Act as inserted by regulation 45 below in so far as those definitions are used in the following provisions of the Banking Act-(i) section 9(7) as inserted by regulation 26 below;(ii) section 11(1A)(f) as inserted by regulation 28(1) below;(iii) section 12A(1) and (3)(b) as inserted by regulation 29 below;(iv)...To continue reading
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