INTRODUCTION
1.These Explanatory Notes relate to the Financial Services (Banking Reform) Act 2013 (“the Act”) which received Royal Assent on 18 December 2013. They have been prepared by Her Majesty’s Treasury in order to assist the reader in understanding the Act. They do not form part of the Act and have not been endorsed by Parliament.
2.The notes need to be read in conjunction with the Act. They are not, and are not meant to be, a comprehensive description of the Act. So where a section or part of a section does not seem to require any explanation or comment, none is given.
3.In these Notes the following abbreviations are used:
	“BS Act” means the Building Societies Act 1986;
	“CA98” means the Competition Act 1998;
	“the CAT” means the Competition Appeal Tribunal;
	“the CMA” means the Competition and Markets Authority;
	“EA02” means the Enterprise Act 2002;
	“the FCA” means the Financial Conduct Authority;
	“FSMA” means the Financial Services and Markets Act 2000;
	“the PRA” means the Prudential Regulation Authority.