Schedule 9, Part 1, Part 5A, paragraph 206H(3)

The Treasury may recognise a person as having systemic significance only if satisfied that any significant deficiency in, or disruption to, the performance of the person’s relevant functions in relation to wholesale cash distribution activities would be likely (in addition to the consequences mentioned in subsection (2))— to threaten the stability of, or confidence in, the UK financial system, or to have serious consequences for business or other interests throughout the United Kingdom or any part of the United Kingdom.

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