Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 8 April 2010 - onwards
    Version 1 of 1    

20. Services forming part of recognised inter-bank payment systems

In Part 5 of the Banking Act 2009 (inter-bank payment systems), after section 206 insert -

"206A Services forming part of recognised inter-bank payment systems

(1) The Treasury may by order make provision applying any provision of this Part to persons who are service providers in relation to a recognised inter-bank payment system.

(2) A person is a service provider in relation to a recognised inter-bank payment system if -

(a) the person provides services that form part of the arrangements constituting the system, and

(b) the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the system.

(3) Telecommunication or information technology services are examples of the kind of services that may fall within subsection (2)(a).

(4) Before specifying persons under subsection (2)(b), the Treasury must -

(a) consult the Bank of England and the FSA,

(b) notify the operator of the system and the persons whom the Treasury proposes to speci

Comparing proposed amendment...