Search Legislation

Small Business, Enterprise and Employment Act 2015

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 14

 Help about opening options

Alternative versions:

Changes to legislation:

There are currently no known outstanding effects for the Small Business, Enterprise and Employment Act 2015, Section 14. Help about Changes to Legislation

14Powers of the Payment Systems RegulatorU.K.

This section has no associated Explanatory Notes

(1)Part 5 of the Financial Services (Banking Reform) Act 2013 (regulation of payment systems) is amended as follows.

(2)Section 58 (power to require disposal of interest in payment system) is amended as provided in subsections (3) and (4).

(3)In subsection (1), for the words following “interest in” substitute

(a)the operator of a regulated payment system, or

(b)an infrastructure provider in relation to such a system,

to dispose of all or part of that interest.

(4)After subsection (2) insert—

(2A)The reference in subsection (2) to a restriction or distortion of competition includes, in particular, a restriction or distortion of competition—

(a)between different operators of payment systems,

(b)between different payment services providers, or

(c)between different infrastructure providers.

(5)In section 108 (relationship with Part 8 of the Payment Services Regulations 2009), in subsection (1)—

(a)for “this Part” substitute “ sections 54 to 58 ”,

(b)for “obtain access to, or otherwise participate in,” substitute “ obtain direct access to ”, and

(c)for “does not apply” substitute “ applies ”.

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?