(1) The Payment Systems Regulator may -
(a) require a person who is a participant in a regulated payment system to provide the Payment Systems Regulator with a report on any matter relating to the person's participation in the system ("the matter concerned"), or
(b) appoint a person to provide the Payment Systems Regulator with a report on the matter concerned.
The person whose participation in the payment system is to be the subject of the report is referred to in this section as "the relevant participant".
(2) The power conferred by subsection (1)(a) is exercisable by giving the relevant participant a notice in writing.
(3) When acting under subsection (1)(a), the Payment Systems Regulator may require the report to be in a form specified in the notice.
(4) The Payment Systems Regulator must give written notice of an appointment under subsection (1)(b) to the relevant participant.
(5) A person appointed to make a report under this section -
(a) must be a person appearing to the Paymen
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