Schedule 9, Part 1, Part 5A, paragraph 206G

The Treasury may by order (a “wholesale cash oversight order”) specify a person as a recognised person for the purposes of this Part. A person may be specified only if the person— performs a relevant function in relation to a wholesale cash distribution activity, and is recognised as having market significance (see section 206H). The following are relevant functions in relation to a wholesale cash distribution activity— undertaking the activity; managing the activity; providing a service in relation to the activity; providing financial assistance in relation to the activity. A wholesale cash oversight order must specify in as much detail as is reasonably practicable— each wholesale cash distribution activity in relation to which the specified person performs a relevant function, and each relevant function the person performs. The Treasury may not make a wholesale cash oversight order in respect of an issuing authority or the Mint.

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