AI Summary of 12 Treasury directions to Bank of England: restrictions
Section 4 of the Bank of England Act 1946 (Treasury directions to the Bank) is amended by adding, in subsection (1) after paragraph (b), a new paragraph (c) authorising directions in relation to the exercise by the Bank of its functions under any enactment concerning: (i) recognised central counterparties; (ii) recognised central securities depositories (CSDs); (iii) third country central counterparties; and (iv) third country CSDs.
After subsection (1) a new subsection (2A) is inserted providing that expressions used in subsection (1)(c) have the same meaning as in section 285 of the Financial Services and Markets Act 2000 (exemption for recognised bodies etc).
12 Treasury directions to Bank of England: restrictions
(1) Section 4 of the Bank of England Act 1946 (Treasury directions to the Bank) is amended as follows.
(2) In subsection (1), after paragraph (b) insert -
"(c) the exercise by the Bank of its functions under any enactment in relation to the following bodies -
(i) recognised central counterparties;
(ii) recognised CSDs;
(iii) third country central counterparties;
(iv) third country CSDs."
(3) After subsection (1) insert -
"(2A) Expressions used in subsection (1)(c) have the same meaning as in section 285 of the Financial Services and Markets Act 2000 (exemption for recognised bodies etc)."