Section 201(1A)

Before imposing a sanction on a person who is a service provider in relation to a recognised payment system or recognised DSA service provider the Bank must also— give the operator of the payment system , or DSA service provider a notice (a “warning notice”), give the operator , or DSA service provider at least 21 days to make representations, consider any representations made, and as soon as reasonably practicable, give the operator or DSA service provider a notice stating whether the Bank intends to impose the sanction.

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