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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 29 August 2023 - onwards
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195. Independent report

(1) The Bank of England may require -

(a) the operator of a recognised payment system to appoint an expert to report on the operation of the system;

(b) a service provider in relation to a recognised payment system to appoint an expert to report on the provision of services to the system;

(c) a recognised DSA service provider to appoint an expert to report on the provision of services to payment systems (whether or not recognised), or

(d) a service provider in relation to a recognised DSA service provider to appoint an expert to report on the provision of services to the DSA service provider.

(2) The Bank may impose a requirement only if it thinks -

(a) the operator or service provider is not taking sufficient account of principles published by the Bank under section 188,

(b) the operator or service provider is failing to comply with a code of practice under section 189, or

(c) the report is likely for any other reason to assist the Bank in the performance of its functions under this P

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