(1) This regulation applies where a payee makes an application to the Payment Systems Regulator seeking resolution of a dispute between the payee and the payee's payment service provider arising under the interchange fee regulation read together with regulation 23 and any direction given under regulation 4A.

(2) If the payee's complaint appears to the Payment Systems Regulator to be justified, the Payment Systems Regulator -

(a) must consider whether to exercise its powers under these Regulations in relation to any suspected compliance failure by the payment service provider; and

(b) may take any other steps it considers appropriate for the purpose of seeking resolution of the dispute.