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Version date: 29 August 2023 - onwards
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42. Participants in payment systems etc

(1) This section applies for the purposes of this Part.

(2) The following persons are "participants" in a payment system -

(a) the operator of the payment system (see subsection (3));

(b) any infrastructure provider (see subsection (4));

(c) any payment service provider (see subsections (5) and (5A)).

(But see also subsection (8).)

(3) "Operator", in relation to a payment system, means any person with responsibility under the system for managing or operating it; and any reference to the operation of a payment system includes a reference to its management.

(4) "Infrastructure provider", in relation to a payment system, means any person who provides or controls any part of the infrastructure used for the purposes of operating the payment system.

(5) "Payment service provider", in relation to a payment system, means any person who provides services to persons who are not participants in the system for the purposes of enabling the transfer of funds using the payment system.

(5A) "Payment s

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