Section 192(3)

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respect of the operator or service provider unless— the FCA or (as the case may be) the PRA consents, or the notice is withdrawn.

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