(1) The Payment Services Regulations 2017 [S.I. 2017/752.] are amended as follows.

(2) In regulation 106 (functions of the FCA) -

(a) in paragraph (3), in sub-paragraph (c), at the end insert -

", including in a way consistent with contributing towards achieving compliance by the Secretary of State with -

(i) section 1 (target for 2050) of the Climate Change Act 2008, and

(ii) section 5 (environmental targets: effect) of the Environment Act 2021,

where the FCA considers the exercise of its functions to be relevant to the making of such a contribution;";

(b) after paragraph (3), insert -

"(4) The Treasury may at any time by notice in writing to the FCA make recommendations to the FCA about aspects of the economic policy of His Majesty's Government to which the FCA should have regard when considering the application of the principles in paragraph (3).

(5) Section 1JA of the 2000 Act applies in relation to any recommendation made under paragraph (4) as if -

(a) that recommendation were made under section 1JA(1)(d);