Section 104F

The Treasury may by regulations require the Payment Systems Regulator to exercise a power under this Part to impose a generally applicable requirement in relation to a specified activity or a specified description of person. Regulations under this section may— specify matters that the requirement must cover; specify a period within which the requirement must be made. But except so far as permitted by subsection (2), regulations under this section may not require the requirement to be imposed— in a specified form or with specified content, or to achieve or advance a specified outcome. If no period is specified under subsection (2)(b) the requirement must be imposed as soon as reasonably practicable after the coming into force of the regulations.

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