Section 192

In exercising powers under this Part the Bank of England shall have regard to any action that the FCA or the PRA has taken or could take. The Bank of England— must consult the FCA before taking action under this Part in respect of a recognised ... payment system the operator of which satisfies section 186(2)(a) , a service provider in relation to such a system or a service provider which itself satisfies section 186(2)(a) and must consult the PRA before taking action under this Part in respect of a recognised ... payment system the operator of which satisfies section 186(2)(b) , a service provider in relation to such a system or a service provider which itself satisfies section 186(2)(b). If the FCA or the PRA gives the Bank of England notice that it is considering taking action in respect of the operator of a recognised ... payment system who satisfies section 186(2)(a) or (b) , a service provider in relation to such a system or a service provider which itself satisfies section 186(2)(a) or (b) the Bank may not take action under this Part in respect of the operator or service provider unless— the FCA or (as the case may be) the PRA consents, or the notice is withdrawn.

← 7 · All articles · 1 →

Source: legislation.gov.uk · retrieved 2026-09-04