http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/crossheading/penalty-receipts/2024-01-01Financial Services (Banking Reform) Act 2013An Act to make further provision about banking and other financial services, including provision about the Financial Services Compensation Scheme; to make provision for the amounts owed in respect of certain deposits to be treated as a preferential debt on insolvency; to make further provision about payment systems and securities settlement systems; to make provision about the accounts of the Bank of England and its wholly owned subsidiaries; to make provision in relation to persons providing claims management services; and for connected purposes.texttext/xmlenStatute Law Database2024-09-06Expert Participation2024-01-01 SCHEDULESSCHEDULE 4The Payment Systems Regulator<Emphasis>Penalty receipts</Emphasis>101The Regulator must in respect of each of its financial years pay to the Treasury its penalty receipts after deducting its enforcement costs.2The Regulator's “penalty receipts” in respect of a financial year are any amounts received by it during the year by way of penalties imposed under section 73.3The Regulator's “enforcement costs” in respect of a financial year are the expenses incurred by it during the year in connection with—athe exercise, or consideration of the possible exercise, of any of its enforcement powers in particular cases, orbthe recovery of penalties imposed under section 73.4For the purposes of sub-paragraph (3) the Regulator's enforcement powers are—aits powers under sections 72 to 75;bits powers under any other enactment specified by the Treasury by order;cits powers in relation to the investigation of relevant offences;dits powers in England and Wales or Northern Ireland in relation to the prosecution of relevant offences.5In sub-paragraph (4) “relevant offences” means—aoffences under this Part;bany other offences specified by the Treasury by order.6The Treasury may give directions to the Regulator as to how it is to comply with its duty under sub-paragraph (1).7The directions may in particular—aspecify descriptions of expenditure that are, or are not, to be regarded as incurred in connection with either of the matters mentioned in sub-paragraph (3),brelate to the calculation and timing of the deduction in respect of the Regulator's enforcement costs, andcspecify the time when any payment is required to be made to the Treasury.8The directions may also require the Regulator to provide the Treasury at specified times with specified information relating to—apenalties that the Regulator has imposed under section 73, orbthe Regulator's enforcement costs.9The Treasury must pay into the Consolidated Fund any sums received by them under this paragraph.111The Regulator must prepare and operate a scheme (“the financial penalty scheme”) for ensuring that the amounts that, as a result of the deduction for which paragraph 10(1) provides, are retained by the Regulator in respect of amounts paid to it by way of penalties imposed under section 73 are applied for the benefit of participants in regulated payment systems.2The financial penalty scheme may, in particular, make different provision with respect to different classes of participant.3The financial penalty scheme must ensure that those who have become liable to pay a penalty to the Regulator in any financial year do not receive any benefit under the scheme in the following financial year.4Up-to-date details of the financial penalty scheme must be set out in a document (the “scheme details”).121The scheme details must be published by the Regulator in the way appearing to it to be best calculated to bring them to the attention of the public.2Before making the financial penalty scheme, the Regulator must publish a draft of the proposed scheme in the way appearing to the Regulator to be best calculated to bring it to the attention of the public.3The draft must be accompanied by notice that representations about the proposals may be made to the Regulator within a specified time.4Before making the scheme, the Regulator must have regard to any representations made to it in accordance with sub-paragraph (3).5If the Regulator makes the proposed scheme, it must publish an account, in general terms, of—athe representations made to it in accordance with sub-paragraph (3), andbits response to them.6If the scheme differs from the draft published under sub-paragraph (2) in a way which is, in the opinion of the Regulator, significant, the Regulator must (in addition to complying with sub-paragraph (5)) publish details of the difference.7The Regulator must, without delay, give the Treasury a copy of any scheme details published by it.8The Regulator may charge a reasonable fee for providing a person with a copy of—aa draft published under sub-paragraph (2);bscheme details.9Sub-paragraphs (2) to (6) and (8)(a) also apply to a proposal to alter or replace the financial penalty scheme.Sch. 4 para. 10 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1Sch. 4 para. 11 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1Sch. 4 para. 12 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1Sch. 4 paras. 5, 7, 9-14 applied (with modifications) (9.12.2015) by The Payment Card Interchange Fee Regulations 2015 (S.I. 2015/1911), regs. 1, 15(3) (as amended (1.1.2024) by The Electronic Money, Payment Card Interchange Fee and Payment Services (Amendment) Regulations 2023 (S.I. 2023/790), reg. 3(10))Sch. 4 paras. 9-14 applied (with modifications) (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), regs. 1(6), 136(3) (with reg. 3)
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<Emphasis>Penalty receipts</Emphasis>
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<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10" id="schedule-4-paragraph-10" RestrictStartDate="2018-01-13">
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<Text>The Regulator must in respect of each of its financial years pay to the Treasury its penalty receipts after deducting its enforcement costs.</Text>
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<Text>The Regulator's “penalty receipts” in respect of a financial year are any amounts received by it during the year by way of penalties imposed under section 73.</Text>
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<Pnumber>3</Pnumber>
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<Text>The Regulator's “enforcement costs” in respect of a financial year are the expenses incurred by it during the year in connection with—</Text>
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<Pnumber>a</Pnumber>
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<Text>the exercise, or consideration of the possible exercise, of any of its enforcement powers in particular cases, or</Text>
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<Text>the recovery of penalties imposed under section 73.</Text>
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<P2para>
<Text>For the purposes of sub-paragraph (3) the Regulator's enforcement powers are—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/4/a/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/4/a" id="schedule-4-paragraph-10-4-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>its powers under sections 72 to 75;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/4/b/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/4/b" id="schedule-4-paragraph-10-4-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>its powers under any other enactment specified by the Treasury by order;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/4/c/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/4/c" id="schedule-4-paragraph-10-4-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>its powers in relation to the investigation of relevant offences;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/4/d/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/4/d" id="schedule-4-paragraph-10-4-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>its powers in England and Wales or Northern Ireland in relation to the prosecution of relevant offences.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/5/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/5" id="schedule-4-paragraph-10-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>
In sub-paragraph (4) “
<Term id="term-relevant-offences">relevant offences</Term>
” means—
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/5/a/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/5/a" id="schedule-4-paragraph-10-5-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>offences under this Part;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/5/b/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/5/b" id="schedule-4-paragraph-10-5-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>any other offences specified by the Treasury by order.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/6/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/6" id="schedule-4-paragraph-10-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>The Treasury may give directions to the Regulator as to how it is to comply with its duty under sub-paragraph (1).</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/7/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/7" id="schedule-4-paragraph-10-7">
<Pnumber>7</Pnumber>
<P2para>
<Text>The directions may in particular—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/7/a/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/7/a" id="schedule-4-paragraph-10-7-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>specify descriptions of expenditure that are, or are not, to be regarded as incurred in connection with either of the matters mentioned in sub-paragraph (3),</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/7/b/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/7/b" id="schedule-4-paragraph-10-7-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>relate to the calculation and timing of the deduction in respect of the Regulator's enforcement costs, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/7/c/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/7/c" id="schedule-4-paragraph-10-7-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>specify the time when any payment is required to be made to the Treasury.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/8/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/8" id="schedule-4-paragraph-10-8">
<Pnumber>8</Pnumber>
<P2para>
<Text>The directions may also require the Regulator to provide the Treasury at specified times with specified information relating to—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/8/a/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/8/a" id="schedule-4-paragraph-10-8-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>penalties that the Regulator has imposed under section 73, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/8/b/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/8/b" id="schedule-4-paragraph-10-8-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the Regulator's enforcement costs.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/10/9/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/10/9" id="schedule-4-paragraph-10-9">
<Pnumber>9</Pnumber>
<P2para>
<Text>The Treasury must pay into the Consolidated Fund any sums received by them under this paragraph.</Text>
</P2para>
</P2>
</P1para>
</P1>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/11/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/11" id="schedule-4-paragraph-11" RestrictStartDate="2018-01-13">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-e2b8d752d97851eaff6870bae97e9cb6"/>
<CommentaryRef Ref="key-1bd2f46ce045ed6b8c6c28e70aaddde9"/>
<CommentaryRef Ref="key-eba73fb0041a7b9e03abd179fdd68faa"/>
11
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/11/1/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/11/1" id="schedule-4-paragraph-11-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>
The Regulator must prepare and operate a scheme (“
<Term id="term-the-financial-penalty-scheme">the financial penalty scheme</Term>
”) for ensuring that the amounts that, as a result of the deduction for which paragraph 10(1) provides, are retained by the Regulator in respect of amounts paid to it by way of penalties imposed under section 73 are applied for the benefit of participants in regulated payment systems.
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/11/2/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/11/2" id="schedule-4-paragraph-11-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The financial penalty scheme may, in particular, make different provision with respect to different classes of participant.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/11/3/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/11/3" id="schedule-4-paragraph-11-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>The financial penalty scheme must ensure that those who have become liable to pay a penalty to the Regulator in any financial year do not receive any benefit under the scheme in the following financial year.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/11/4/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/11/4" id="schedule-4-paragraph-11-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>Up-to-date details of the financial penalty scheme must be set out in a document (the “scheme details”).</Text>
</P2para>
</P2>
</P1para>
</P1>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12" id="schedule-4-paragraph-12" RestrictStartDate="2018-01-13">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-3f569da3ab1efff815bf11590d476be0"/>
<CommentaryRef Ref="key-1bd2f46ce045ed6b8c6c28e70aaddde9"/>
<CommentaryRef Ref="key-eba73fb0041a7b9e03abd179fdd68faa"/>
12
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/1/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/1" id="schedule-4-paragraph-12-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The scheme details must be published by the Regulator in the way appearing to it to be best calculated to bring them to the attention of the public.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/2/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/2" id="schedule-4-paragraph-12-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Before making the financial penalty scheme, the Regulator must publish a draft of the proposed scheme in the way appearing to the Regulator to be best calculated to bring it to the attention of the public.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/3/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/3" id="schedule-4-paragraph-12-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>The draft must be accompanied by notice that representations about the proposals may be made to the Regulator within a specified time.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/4/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/4" id="schedule-4-paragraph-12-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>Before making the scheme, the Regulator must have regard to any representations made to it in accordance with sub-paragraph (3).</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/5/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/5" id="schedule-4-paragraph-12-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>If the Regulator makes the proposed scheme, it must publish an account, in general terms, of—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/5/a/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/5/a" id="schedule-4-paragraph-12-5-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the representations made to it in accordance with sub-paragraph (3), and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/5/b/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/5/b" id="schedule-4-paragraph-12-5-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>its response to them.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/6/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/6" id="schedule-4-paragraph-12-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>If the scheme differs from the draft published under sub-paragraph (2) in a way which is, in the opinion of the Regulator, significant, the Regulator must (in addition to complying with sub-paragraph (5)) publish details of the difference.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/7/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/7" id="schedule-4-paragraph-12-7">
<Pnumber>7</Pnumber>
<P2para>
<Text>The Regulator must, without delay, give the Treasury a copy of any scheme details published by it.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/8/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/8" id="schedule-4-paragraph-12-8">
<Pnumber>8</Pnumber>
<P2para>
<Text>The Regulator may charge a reasonable fee for providing a person with a copy of—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/8/a/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/8/a" id="schedule-4-paragraph-12-8-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>a draft published under sub-paragraph (2);</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/8/b/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/8/b" id="schedule-4-paragraph-12-8-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>scheme details.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/12/9/2024-01-01" IdURI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/12/9" id="schedule-4-paragraph-12-9">
<Pnumber>9</Pnumber>
<P2para>
<Text>Sub-paragraphs (2) to (6) and (8)(a) also apply to a proposal to alter or replace the financial penalty scheme.</Text>
</P2para>
</P2>
</P1para>
</P1>
</Pblock>
</ScheduleBody>
</Schedule>
</Schedules>
</Primary>
<Commentaries>
<Commentary id="key-fb397e23d3701d000c734f3f87410ba4" Type="I">
<Para>
<Text>
Sch. 4 para. 10 in force at 1.3.2014 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/377" id="cygub5wu1-00977" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="377" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) Order 2014">S.I. 2014/377</Citation>
,
<CitationSubRef CitationRef="cygub5wu1-00977" id="cygub5wu1-00978" URI="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a" SectionRef="article-2-1-a">art. 2(1)(a)</CitationSubRef>
,
<CitationSubRef CitationRef="cygub5wu1-00977" id="cygub5wu1-00979" URI="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1" SectionRef="schedule-part-1" Operative="true">Sch. Pt. 1</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-e2b8d752d97851eaff6870bae97e9cb6" Type="I">
<Para>
<Text>
Sch. 4 para. 11 in force at 1.3.2014 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/377" id="cygub5wu1-00988" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="377" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) Order 2014">S.I. 2014/377</Citation>
,
<CitationSubRef CitationRef="cygub5wu1-00988" id="cygub5wu1-00989" URI="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a" SectionRef="article-2-1-a">art. 2(1)(a)</CitationSubRef>
,
<CitationSubRef CitationRef="cygub5wu1-00988" id="cygub5wu1-00990" URI="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1" SectionRef="schedule-part-1" Operative="true">Sch. Pt. 1</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-3f569da3ab1efff815bf11590d476be0" Type="I">
<Para>
<Text>
Sch. 4 para. 12 in force at 1.3.2014 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/377" id="cygub5wu1-00999" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="377" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) Order 2014">S.I. 2014/377</Citation>
,
<CitationSubRef CitationRef="cygub5wu1-00999" id="cygub5wu1-01000" URI="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/a" SectionRef="article-2-1-a">art. 2(1)(a)</CitationSubRef>
,
<CitationSubRef CitationRef="cygub5wu1-00999" id="cygub5wu1-01001" URI="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/1" SectionRef="schedule-part-1" Operative="true">Sch. Pt. 1</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-1bd2f46ce045ed6b8c6c28e70aaddde9" Type="C">
<Para>
<Text>
<CitationSubRef id="ccd8e120240131114127442Z" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/5" SectionRef="schedule-4-paragraph-5">Sch. 4 paras. 5</CitationSubRef>
,
<CitationSubRef id="ccd8e420240131114127442Z" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/7" SectionRef="schedule-4-paragraph-7">7</CitationSubRef>
,
<CitationSubRef id="ccd8e720240131114127442Z" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/9" UpTo="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/4/paragraph/14" Type="group" StartSectionRef="schedule-4-paragraph-9" EndSectionRef="schedule-4-paragraph-14">9-14</CitationSubRef>
applied (with modifications) (9.12.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2015/1911" id="d10e10" Class="UnitedKingdomStatutoryInstrument" Year="2015" Number="1911" Title="The Payment Card Interchange Fee Regulations 2015">The Payment Card Interchange Fee Regulations 2015 (S.I. 2015/1911)</Citation>
,
<CitationSubRef id="ccd8e1320240131114127442Z" CitationRef="d10e10" URI="http://www.legislation.gov.uk/id/uksi/2015/1911/regulation/1" SectionRef="regulation-1">regs. 1</CitationSubRef>
,
<CitationSubRef id="ccd8e1620240131114127442Z" CitationRef="d10e10" URI="http://www.legislation.gov.uk/id/uksi/2015/1911/regulation/15/3" Operative="true" SectionRef="regulation-15-3">15(3)</CitationSubRef>
(as amended (1.1.2024) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2023/790" id="d10e20" Class="UnitedKingdomStatutoryInstrument" Year="2023" Number="790" Title="The Electronic Money, Payment Card Interchange Fee and Payment Services (Amendment) Regulations 2023">The Electronic Money, Payment Card Interchange Fee and Payment Services (Amendment) Regulations 2023 (S.I. 2023/790)</Citation>
,
<CitationSubRef id="ccd8e2320240131114127442Z" CitationRef="d10e20" URI="http://www.legislation.gov.uk/id/uksi/2023/790/regulation/3/10" Operative="true" SectionRef="regulation-3-10">reg. 3(10)</CitationSubRef>
)
</Text>
</Para>
</Commentary>
<Commentary id="key-eba73fb0041a7b9e03abd179fdd68faa" Type="C">
<Para>
<Text>
Sch. 4 paras. 9-14 applied (with modifications) (13.1.2018) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2017/752" id="cwfo9thy2-00089" Class="UnitedKingdomStatutoryInstrument" Year="2017" Number="752" Title="The Payment Services Regulations 2017">The Payment Services Regulations 2017 (S.I. 2017/752)</Citation>
,
<CitationSubRef CitationRef="cwfo9thy2-00089" id="cwfo9thy2-00090" URI="http://www.legislation.gov.uk/id/uksi/2017/752/regulation/1/6" SectionRef="regulation-1-6">regs. 1(6)</CitationSubRef>
,
<CitationSubRef CitationRef="cwfo9thy2-00089" id="cwfo9thy2-00091" URI="http://www.legislation.gov.uk/id/uksi/2017/752/regulation/136/3" SectionRef="regulation-136-3" Operative="true">136(3)</CitationSubRef>
(with
<CitationSubRef CitationRef="cwfo9thy2-00089" id="cwfo9thy2-00092" URI="http://www.legislation.gov.uk/id/uksi/2017/752/regulation/3" SectionRef="regulation-3">reg. 3</CitationSubRef>
)
</Text>
</Para>
</Commentary>
</Commentaries>
</Legislation>