PART 5Regulation of payment systems
Regulatory and competition functions
I156Power to require granting of access to payment systems
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.