Section 200

The Bank of England may by order prohibit a specified person from being an operator of a recognised ... payment system or from being a DSA service provider— for a specified period, until further notice, or permanently. The Bank may by order prohibit a specified person from holding an office or position involving responsibility for taking decisions about the management of a recognised ... payment system , or a recognised DSA service provider, or about the management of a service provider in relation to such a system or such a DSA service provider— for a specified period, until further notice, or permanently. Before making an order under subsection (2) in respect of a service provider, the Bank must have regard to the public interest in the continued operation of each recognised payment system , or of each recognised DSA service provider, in relation to which the service provider is specified under section 206A(2)(b). or 206A(2A)(b) (as the case may be). A person who breaches a prohibition under subsection (1) or (2) commits an offence. A person guilty of an offence is liable— on summary conviction, to a fine not exceeding the statutory maximum, or on conviction on indictment, to a fine.

← 5 · All articles · 1 →

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