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UK Law Reference
Bank of England and Financial Services Act 2016 overview

Bank of England and Financial Services Act 2016 — full text by section

Consolidated text as published on legislation.gov.uk, snapshot 2026-08-24. Read the Act on legislation.gov.uk

42 sections. Default extent: E+W+S+N.I..

  1. s.1Membership of court of directors
  2. s.2Term of office of non-executive directors
  3. s.3Abolition of Oversight Committee
  4. s.4Functions of non-executive directors
  5. s.5Financial stability strategy
  6. s.6Financial Policy Committee: status and membership
  7. s.7Monetary Policy Committee: membership
  8. s.8Monetary Policy Committee: procedure
  9. s.9Audit
  10. s.10Activities indemnified by Treasury
  11. s.11Examinations and reviews
  12. s.12Bank to act as Prudential Regulation Authority
  13. s.13Prudential Regulation Committee
  14. s.14Accounts relating to Bank's functions as Prudential Regulation Authority
  15. s.15Transfer of property etc to Bank
  16. s.16Amendments relating to Part 1
  17. s.17Saving and transitional provision relating to Part 1
  18. s.18Appointment of Financial Conduct Authority chief executive
  19. s.19Treasury recommendations to Financial Conduct Authority
  20. s.20Regulatory principles: diversity
  21. s.21Extension of relevant authorised persons regime to all authorised persons
  22. s.22Rules about controlled functions: power to make transitional provision
  23. s.23Administration of senior managers regime
  24. s.24Rules of conduct
  25. s.25Misconduct
  26. s.26Decisions causing a financial institution to fail: meaning of insolvency
  27. s.27Enforceability of agreements relating to credit
  28. s.28Enforceability of agreements made through unauthorised persons
  29. s.29Illegal money lending
  30. s.30Money laundering and terrorist financing
  31. s.31Transformer vehicles
  32. s.32Pensions guidance
    No text published
  33. s.33Advice about transferring or otherwise dealing with annuity payments
  34. s.34Independent advice on conversions and transfers of pension benefits: appointed representatives
  35. s.35Early exit pension charges
  36. s.36Duty of Bank to provide information to Treasury
  37. s.37Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001
  38. s.38Banks authorised to issue banknotes in Scotland and Northern Ireland
  39. s.39Consequential provision
  40. s.40Extent
  41. s.41Commencement
  42. s.42Short title