Section 113

In this Part— “company” means a company registered under the Companies Act 2006; “operator”, in relation to a recognised ... payment system, is to be read in accordance with section 183 of the Banking Act 2009; “recognised CSD” has the meaning given by section 285 of FSMA 2000; “recognised DSA service provider” means a DSA service provider, as defined by section 182(5A) of the Banking Act 2009, in respect of which a recognition order under section 184A of that Act is in force; “recognised ... payment system” means a payment system, as defined by section 182 of the Banking Act 2009, in respect of which a recognition order under section 184 of that Act is in force; “the relevant system” means— in relation to an infrastructure company falling within subsection (2)(a) of section 112, the recognised ... payment system, in relation to an infrastructure company falling within subsection (2)(b) of that section, the securities settlement system, in relation to an infrastructure company falling within subsection (2)(ba) of that section, any system used by the company to facilitate or control wholesale cash distribution, in relation to a company designated under subsection (4) of that section, the recognised ... payment system or securities settlement system falling within paragraph (b) of that subsection; “securities settlement system” means a computer-based system, and procedures, which enable title to units of a security to be evidenced and transferred without a written instrument, and which facilitate supplementary and incidental matters. “wholesale cash distribution” and “wholesale cash distribution activities” have the meanings given by section 206E of the Banking Act 2009. Expressions used in the definition of “securities settlement system” in subsection (1) are to be read in accordance with section 783 of the Companies Act 2006.

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