Section 136(3)

For the purposes of these Regulations paragraphs 5, 7 and 9 to 14 of Schedule 4 to the 2013 Act (the Payment Systems Regulator) apply as if— references to the functions of the Payment Systems Regulator included references to the functions of the Payment Systems Regulator under the interchange fee regulation and these Regulations; in paragraph 5 of that Schedule (arrangements for discharging functions)— in sub-paragraph (3), the reference to general directions under section 54 of the 2013 Act included a reference to general directions under regulation 125; in sub-paragraph (4), the reference to general guidance included a reference to general guidance under regulation 134 (guidance); in paragraph 9 (funding) of that Schedule, in sub-paragraph (1) the reference to participants in regulated payment systems included a reference to regulated persons; in paragraph 10 of that Schedule (penalty receipts)— references to penalties imposed under section 73 of the 2013 Act included references to penalties imposed under regulation 127 (penalties); in sub-paragraph (4)— in paragraph (a) the reference to the Payment Systems Regulator's powers under sections 72 to 75 of the 2013 Act included a reference to the Payment Systems Regulator's powers under regulations 126 to 129 (publication of compliance failures and penalties, penalties and injunctions); in paragraphs (c) and (d) the reference to relevant offences included reference to offences under Part 5 of the 2013 Act as applied by regulation 135 and under these Regulations; and in paragraph 11 of that Schedule (penalty receipts)— in sub-paragraph (1), the reference to penalties imposed under section 73 of the 2013 Act included a reference to penalties imposed under regulation 127 (penalties); and in sub-paragraphs (1) and (2), the references to participants in regulated payment systems included references to regulated persons.

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