Section 104(3)

The draft must be accompanied by— a cost benefit analysis, an explanation of the purpose of the proposed requirement, an explanation of the ways in which having regard to specified matters under section 102B(2) has affected the proposed requirement, an explanation of the Payment Systems Regulator's reasons for believing that imposing the requirement is compatible with its duties under section 49, and notice that representations about the proposed requirement may be made to the Payment Systems Regulator within a specified time.

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