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Banking Bill

Amendment 128 128: After Clause 86, insert the following new Clause— ““Foreign banks (1) The Treasury may by order provide for the application of this Part to foreign banks in respect of their activities in the UK. (2) A foreign bank is an EEA firm qualifying for authorisation to accept deposits under Schedule 3 to the Financial Services and Markets Act 2000 or a Treaty firm qualifying for authorisation to accept deposits under Schedule 4 to that Act. (3) An order may disapply, modify or apply (with or without modifications) any enactment which relates, or in so far as it relates, to the UK operations of foreign banks. (4) An order— (a) shall be made by statutory instrument, and (b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament. (5) Provision made under or by virtue of this Part may make special provision in relation to the application of this Part to the UK activities of foreign banks.””