Section 42(7)

Any reference to participation in a payment system is to be read in accordance with this section, and in particular— in the case of an operator of a payment system, includes a reference to developing the system, and in the case of a payment service provider with direct access to a payment system, includes a reference to entering into an agreement with a person to enable the person to become a payment service provider in relation to the system.

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