(1) The Bank shall, save where paragraph (2), (3) or (4) of Regulation 9 applies, direct a payment institution to calculate the amount of that institution’s own funds requirement in accordance with Regulation 12, 13 or 14.
(2) A payment institution shall be deemed to have been directed by the Bank to calculate its own funds requirement -
(a) in accordance with Regulation 12, where the payment’s institution’s authorisation specifies that the payment institution is to calculate its own funds requirement in accordance with Regulation 12 or “Method A”,
(b) in accordance with Regulation 13, where the payment’s institution’s authorisation specifies that the payment institution is to calculate its own funds requirement in accordance with Regulation 13 or “Method B”, and
(c) in accordance with Regulation 14, where the payment’s institution’s authorisation specifies that the payment institution is to calculate its own funds requirement in accordance with Regulation 14 or
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