PART 5Regulation of payment systems
Designation as a regulated payment system
I146Amendment of designation order
1
The Treasury may amend a designation order.
2
Before amending 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 F1... payment system, the Bank of England,
b
notify the operator of the payment system, and
c
consider any representations made.
3
The Treasury must consider any request by the operator of a regulated payment system for the amendment of its designation order.