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EXPLANATORY NOTES

Explanatory notes to the Bill, prepared by HM Treasury, are published separately as
Bill 2-EN

EUROPEAN CONVENTION ON HUMAN RIGHTS

Mr Chancellor of the Exchequer has made the following statement under section
19(1)(a) of the Human Rights Act 1998:

In my view the provisions of the Financial Services (Banking Reform) Bill are
compatible with the Convention rights.

Contents

  1. Ring-fencing

    1. 1. Objectives of Prudential Regulation Authority

    2. 2. Modification of objectives of Financial Conduct Authority

    3. 3. Amendment of PRA power of direction

    4. 4. Ring-fencing of certain activities

    5. 5. Directors of ring-fenced bodies to be approved persons

    6. 6. PRA annual report

    7. 7. Ring-fencing transfer schemes

    8. 8. Building societies: power to make provision about ring-fencing

  2. Depositor preference

    1. 9. Preferential debts: Great Britain

  3. Financial Services Compensation Scheme

    1. 10. Discharge of functions by the scheme manager

    2. 11. Power to require information from scheme manager

    3. 12. Scheme manager: appointment of accounting officer

  4. Fees to meet Treasury expenditure

    1. 13. Fees to meet Treasury expenditure relating to international organisations

  5. Parliamentary control of statutory instruments under FSMA 2000

    1. 14. Amendments of section 429 of FSMA 2000

  6. Bank of England

    1. 15. Accounts of Bank of England and its wholly-owned subsidiaries

  7. Final provisions

    1. 16. Orders and regulations

    2. 17. Interpretation

    3. 18. Transitional provisions and savings

    4. 19. Extent

    5. 20. Commencement and short title

    1. Schedule

      Ring-fencing transfer schemes

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