(1) Part 5 of the Banking Act 2009 (inter-bank payment systems) is amended as follows.
(2) After section 186 insert -
"186A Amendment of recognition order
(1) The Treasury may amend a recognition order.
(2) Before amending a recognition order the Treasury must -
(a) consult the Bank of England,
(b) notify the operator of the recognised inter-bank payment system, and
(c) consider any representations made.
(3) In addition, the Treasury -
(a) must consult the FCA before amending a recognition order in respect of a payment system the operator of which -
(i) is, or has applied to become, a recognised investment exchange, or
(ii) has, or has applied for, a Part 4A permission, and
(b) if the operator has, or has applied for, a Part 4A permission for the carrying on of a PRA-regulated activity, must also consult the PRA.
(4) The Treasury must consider any request by the operator of a recognised inter -bank payment system for the amendment of its recognition order."
(3) For section 191 substitu
…