Regulation 3 Functions
Amendments (requiring commencement) by reg. 3 of the Electronic Money, Payment Card Interchange Fee and Payment Services (Amendment) Regulations 2023 [SI 2023 No. 790], published 11 July 2023.
(1) [deleted]
(2) The Payment Systems Regulator must maintain arrangements to enable it to -
(a) determine whether regulated persons comply with obligations, prohibitions and restrictions imposed on them by -
(i) the interchange fee regulation, read together with regulations 22 (weighted average interchange fees for domestic debit card transactions) and 23 (exemption from maximum interchange fees for certain three party payment card schemes);
(ii) a technical standard made under section 97A of the 2013 Act; or
(iii) a direction given under regulation 4A;
(b) enforce compliance by regulated persons with those obligations, prohibitions and restrictions.
(3) In paragraph (2) references to regulated persons include reference to regulated persons situated outside the United Kingdom.