10. Creation of the Implementation Entity
10.1 Providers shall, if not done in advance of the date of this Order, within two weeks of this Article coming into force set up an entity (the ‘Implementation Entity’) that will agree, consult upon, implement, maintain and make widely available, without charge open and common banking standards for:
10.1.1 read only access to data set out in Articles 12 and 13 (the ‘Read-only Data Standard’); and
10.1.2 both read and write access, which allows a third party to access account information or initiate a payment on behalf of the customer (subject to the customer’s explicit consent), for data set out in Article 14 (the ‘Read/Write Data Standard’) and which has the features and elements necessary to enable Providers to comply with the requirements to provide access to accounts subject to this Part 2 of the Order under PSD2.
10.2 The Read-only Data Standard and Read/Write Data Standard shall include provisions relating to:
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