Section 45

Before making a designation order in respect of a payment system the Treasury must— consult the Payment Systems Regulator and, if the system is a recognised ... payment system, the Bank of England, notify the operator of the system, and consider any representations made. In considering whether to make a designation order in respect of a payment system, the Treasury may rely on information provided by— the Bank of England, the FCA, the PRA, or the Payment Systems Regulator.

← 2 · All articles · 1 →

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