Section 206F

In this Part— “FCA” means the Financial Conduct Authority; “FCA-regulated person” means— a person who has Part 4A permission, an authorised payment institution or small payment institution, within the meaning of the Payment Services Regulations 2017 (S.I. 2017/752), or an authorised electronic money institution or small electronic money institution, within the meaning of the Electronic Money Regulations 2011 (S.I. 2011/99); “Part 4A permission” has the meaning given by section 55A of the Financial Services and Markets Act 2000; “the Payment Systems Regulator” means the Payment Systems Regulator established under section 40 of the Financial Services (Banking Reform) Act 2013; “PRA” means the Prudential Regulation Authority; “PRA-regulated activity” has the meaning given by section 22A of the Financial Services and Markets Act 2000; “the UK financial system” has the meaning given by section 1I of the Financial Services and Markets Act 2000. For the purposes of this Part, a company (within the meaning of the Companies Act 2006) is wholly owned by the Crown if, and only if, every member of the company is— a Minister of the Crown, government department or company wholly owned by the Crown, or a person acting on behalf of a Minister of the Crown, government department or company wholly owned by the Crown.

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