Regulation 21(2)

Factors to be taken into account

1. When considering whether to give a designation notice to a credit institution, the Treasury must take into account the following factors -

(a) the credit institution’s geographical coverage;

(b) the distribution of consumers within the United Kingdom;

(c) the credit institution’s share of the United Kingdom’s payment account market.

Procedure

2.

(1) Before giving a designation notice to a credit institution, the Treasury must -

(a) consult the Authority;

(b) notify the credit institution that it is minded to give the designation notice; and

(c) consider any representations made.