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Changes over time for: Section 47
Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 18/07/2019.
Changes to legislation:
Financial Services (Banking Reform) Act 2013, Section 47 is up to date with all changes known to be in force on or before 09 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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47Revocation of designation ordersU.K.
This
adran has no associated
Nodiadau Esboniadol
(1)The Treasury may revoke a designation order.
(2)The Treasury must revoke a designation order if they are not satisfied that the criteria in section 44 are met in respect of the payment system to which the order relates.
(3)Before revoking a designation order made in respect of a payment system, the Treasury must—
(a)consult the Payment Systems Regulator and, if the payment system is a recognised ... payment system, the Bank of England,
(b)notify the operator of the payment system, and
(c)consider any representations made.
(4)The Treasury must consider any request by the operator of a regulated payment system for the revocation of its designation order.
Textual Amendments
Commencement Information
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