The Financial Services (Banking Reform) Act 2013 (Transitional Provision) Order 2014 has been published together with an explanatory memorandum.

The Order relates to section 16 of the Financial Services (Banking Reform) Act 2013 (Banking Reform Act), which amends section 212 of the Financial Services and Markets Act 2000 to provide that the Financial Services Compensation Scheme (FSCS) must have a chief executive appointed by HM Treasury, who should also be the FSCS’ accounting officer. The explanatory memorandum also notes that the existing chief executive is to be treated on 1st April 2014 as if appointed with HM Treasury approval.

View The Financial Services (Banking Reform) Act 2013 (Transitional Provision) Order 2014, 24 February 2014

View Explanatory memorandum to The Financial Services (Banking Reform) Act 2013 (Transitional Provision) Order 2014, 24 February 2014