Section 98(5)

“Relevant functions” means— in relation to the Payment Systems Regulator, its functions under this Part or Part 2 of the Payment Card Interchange Fee Regulations 2015 ; in relation to the Bank of England, its functions under Part 5 of the Banking Act 2009 (...payment systems) or Part 5A of that Act (wholesale cash distribution); in relation to the FCA— the functions conferred on it by or under FSMA 2000 (see section 1A(6) of that Act); the functions conferred on it by or under Part 3 of the Payment Card Interchange Fee Regulations 2015 (S.I. 2015/1911); the functions conferred on it by or under the Electronic Money Regulations 2011 (S.I. 2011/99); its functions in regulating— credit institutions where authorised under Part 4A of FSMA 2000, or authorised payment institutions under the Payment Services Regulations 2017 (S.I. 2017/752). in relation to the PRA, the functions conferred on it by or under FSMA 2000 (see section 2AB(3) of that Act).

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