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Changes over time for: Section 56
Timeline of Changes
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Point in time view as at 13/07/2018.
Changes to legislation:
Financial Services (Banking Reform) Act 2013, Section 56 is up to date with all changes known to be in force on or before 31 October 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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56Power to require granting of access to payment systemsU.K.
This section has no associated Explanatory Notes
(1)This section applies where a person (“the applicant”) applies for an order under this section.
(2)The Payment Systems Regulator may by order require the operator of a regulated payment system to enable the applicant to become a payment service provider in relation to the system.
(3)The Payment Systems Regulator may by order require any payment service provider with direct access to a regulated payment system to enter into an agreement with the applicant to enable the applicant to become a payment service provider in relation to the system.
(4)An order under this section may provide for the applicant to become a payment service provider in relation to a payment system—
(a)for a period specified in the order;
(b)on terms and conditions specified in the order.
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