(1) Before making a wholesale cash oversight order in respect of a person the Treasury must -
(a) consult the Bank of England,
(b) notify the person, and
(c) consider any representations made.
(2) In addition, the Treasury must -
(a) consult the FCA before making a wholesale cash oversight order in respect of a person who is, or has applied to be, an FCA-regulated person;
(b) consult the PRA before making a wholesale cash oversight order in respect of a person who has, or has applied for, Part 4A permission for the carrying on of a PRA-regulated activity;
(c) consult the Payment Systems Regulator before making a wholesale cash oversight order in respect of a person who is a participant in a regulated payment system.
(3) In subsection (2)(c), "participant" and "regulated payment system" have the same meanings as in Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 110 of that Act).
(4) In considering whether to make the order, the Treasury may rely on information p
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