1. UK Financial Services Law
  2. Legislation (UK)
  3. Acts
  4. 2013
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  1. Financial Services (Banking Reform) Act 2013 (c. 33)
  2. Part 5 Regulation of payment systems (ss. 39-110)
  3. Regulatory and competition functions (ss. 54-67)
  4. 56. Power to require granting of access to payment systems
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 March 2014 - onwards
  Version 2 of 2    

56. Power to require granting of access to payment systems

(1) This section applies where a person ("the applicant") applies for an order under this section.

(2) The Payment Systems Regulator may by order require the operator of a regulated payment system to enable the applicant to become a payment service provider in relation to the system.

(3) The Payment Systems Regulator may by order require any payment service provider with direct access to a regulated payment system to enter into an agreement with the applicant to enable the applicant to become a payment service provider in relation to the system.

(4) An order under this section may provide for the applicant to become a payment service provider in relation to a payment system -

(a) for a period specified in the order;

(b) on terms and conditions specified in the order.

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