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Home >  Financial services >  Financial stability >  Banking Act 2009 and the establishment of the Special Resolution Regime (SRR)  > Banking Act 2009: standing secondary legislation

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Banking Act 2009: standing secondary legislation

The Banking Act 2009 includes powers to make standing secondary legislation, which establishes some of the detailed provisions of the Act. An initial set of instruments was made at the end of February 2009 when the Act was commenced. Further secondary legislation was made in March to enable the resolution of Dunfermline building society. Further secondary legislation was made in July 2009, amending the safeguards for partial transfers under Part 1 of the Act.

Commencement orders

• Banking Act 2009 (Commencement No. 1) Order 2009 (SI 2009/296), made 16th February 2009 (Bringing into force parts 1-3 of the Banking Act). This Order brings into force on 21st February 2009 various provisions, including in particular Part 1 (the special resolution regime), Part 2 (bank insolvency), Part 3 (bank administration) and sections 169, 171, and 173 to 180 of Part 4 (provisions relating to the Financial Services Compensation Scheme).
• Banking Act 2009 (Commencement No. 2) Order 2009 (2009/1296), made 20th May 2009. This Order brings into force on 1st June 2009 various sections of Part 7.
• The Banking Act 2009 (Commencement No. 3) Order 2009 (SI 2009/2038), made 4 August 2009. This Order brings into force on 4th August 2009 sections 181 to 187 and sections 204 (in part) and 205 of Part 5 of the Act, which relate to HM Treasury’s powers to recognise and de-recognise inter-bank payment systems, and confer information gathering and sharing powers on the Bank came into force.

Standing secondary legislation

• The Bank Administration Rules (Northern Ireland) 2009 (SR 2009/63), made 18 February 2009 and coming into operation 25 February
• The Bank Insolvency (Northern Ireland) Rules 2009 (SR 2009/64, made 18 February 2009 and coming into operation 25 February
• The Banking Act 2009 (Bank Administration) (Modification for Application to Banks in Temporary Public Ownership) Regulations 2009 (SI 2009/312), made 19 February 2009, laid before Parliament 20 February and coming into force 21 February
• The Banking Act 2009 (Bank Administration) (Modification for Application to Multiple Transfers) Regulations 2009 (SI 2009/313), made 19 February 2009, laid before Parliament 20 February and coming into force 21 February
• The Bank Administration (Sharing Information) Regulations 2009 (SI 2009/314), made 19 February 2009, laid before Parliament 20 February and coming into force 21 February
• The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 (SI 2009/317), made 19 February 2009, laid before Parliament 20 February and coming into force 21 February
• The Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009 (SI 2009/319), made 19 February 2009, laid before Parliament 20 February and coming into force 21 February 
• The Banking Act 2009 (Restriction of Partial Property Transfers) Order 2009 (SI 2009/322), made 19 February 2009, laid before Parliament 20 February and coming into force 21 February
• The Bank Administration (Scotland) Rules 2009 (SI 2009/350)The Bank Insolvency (Scotland) Rules 2009 (SI 2009/351), made 23 February 2009, laid before Parliament 24 February and coming into force 25 February 
• The Bank Insolvency (England and Wales) Rules 2009 (SI 2009/356), made 23 February 2009, laid before Parliament 24 February and coming into force 25 February, made 23 February 2009, laid before Parliament 24 February and coming into force 25 February
• The Bank Administration (England and Wales) Rules 2009 (SI 2009/357), made 23 February 2009, laid before Parliament 24 February and coming into force 25 February
• The Bank Insolvency (No. 2) Rules (Northern Ireland) 2009 (SR 2009/122), made 18 March 2009, coming into operation 1 April
• The Building Societies (Insolvency and Special Administration) Order 2009 (SI 2009/805), made 29 March 2009, coming into force 29 March, laid before Parliament 30 March
• The Building Society Special Administration (Scotland) Rules 2009 (SI 2009/806(S3)), made 29 March 2009, coming into force 29 March, laid before Parliament 30 March
• The Financial Services and Markets Act 2000 (Contribution to Costs of Special Resolution Regime) Regulations 2009 (SI 2009/807), made 29 March 2009, coming into force 29 March, laid before Parliament 30 March
• Banking Act 2009 (Restriction of Partial Property Transfers) (Amendment) Order 2009 (SI 2009/1826), made 8 July 2009 coming into force 9 July 

All statutory instruments are available on the OPSI website.

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