http://www.legislation.gov.uk/ukpga/2013/33/section/112/enactedFinancial Services (Banking Reform) Act 2013enKing's Printer of Acts of Parliament2019-08-23 PART 6Special administration for operators of certain infrastructure systemsIntroductoryInterpretation: infrastructure companies 112 1 In this Part “infrastructure company” has the meaning given by this section. 2 “Infrastructure company” means a company which is— a the operator of a recognised inter-bank payment system, other than an operator excluded by subsection (3), b approved under regulations under section 785 of the Companies Act 2006 (provision enabling procedures for evidencing and transferring title) as the operator of a securities settlement system, or c a company designated by the Treasury under subsection (4). 3 But a company is not an infrastructure company if it is a recognised central counterparty, as defined by section 285 of FSMA 2000. 4 The Treasury may by order designate a company for the purposes of subsection (2)(c) if— a the company provides services to a person falling within subsection (2)(a) or (b), and b the Treasury are satisfied that an interruption in the provision of those services would have a serious adverse effect on the effective operation of the recognised inter-bank payment system or securities settlement system in question. 5 An order under subsection (4) must specify the recognised inter-bank payment system or securities settlement system in connection with which the company is designated. 6 Before designating a company under subsection (4), the Treasury must consult— a the company to be designated, b the person within subsection (2)(a) or (b) to whom the company provides services, c the Bank of England, d if the company is a PRA-authorised person, the PRA and the FCA, and e if the company is an authorised person other than a PRA-authorised person, the FCA.
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<Title>Special administration for operators of certain infrastructure systems</Title>
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the operator of a recognised inter-bank payment system, other than an operator excluded by subsection
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<Text>But a company is not an infrastructure company if it is a recognised central counterparty, as defined by section 285 of FSMA 2000.</Text>
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The Treasury may by order designate a company for the purposes of subsection
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if—
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<Text>the Treasury are satisfied that an interruption in the provision of those services would have a serious adverse effect on the effective operation of the recognised inter-bank payment system or securities settlement system in question.</Text>
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