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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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Regulation 124 Functions of the Payment Systems Regulator

(1) The Payment Systems Regulator has the functions and powers conferred on it by these Regulations -

(a) the condition in Article 3(o) (transposed in regulation 61) (information on ATM withdrawal charges);

(b) Article 35 (transposed in regulations 102 to 104) (access to payment systems);

(c) Article 36 (transposed in regulation 105) (access to bank accounts), together with the FCA,

and has the functions and powers conferred on it by these Regulations.

(2) In determining the general policy and principles by reference to which it performs particular functions under these Regulations the Payment Systems Regulator must have regard to the matters to which the FCA is required to have regard by regulation 106(3), and for that purpose references to the FCA in regulation 106(3)(f) to (h) are to be read as references to the Payment Systems Regulator.

(3) The Payment Systems Regulator must maintain arrangements designed to enable it to determine whether regulated persons are complying with qual

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