Digital Economy Act 2017 (c. 30)

SCHEDULES

SCHEDULE 9 Bank of England oversight of payment systems

PART 1 Extension of Bank of England oversight of payment systems

4 (1) Section 182 (interpretation: “inter-bank payment system”) is amended as follows.

(2) In subsection (1)—

(a) omit “inter-bank”;

(b) omit the words from “between financial institutions” to the end.

(3) After subsection (1) insert—

“(1A) But “payment system” does not include any arrangements for the physical movement of cash.”

(4) Omit subsections (2) and (3).

(5) In subsection (5) for “an inter-bank” substitute “a”.

(6) In the heading omit “inter-bank”.