Schedule 7, paragraph 4(3)

The Payment Systems Regulator must respond to each recommendation made to it under subsection (1) by notifying the Treasury in writing of— action that the Regulator has taken or intends to take in accordance with the recommendation, or the reasons why the Regulator has not acted or does not intend to act in accordance with the recommendation.

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