- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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Banking Act 2009
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Changes over time for: Section 187
Version Superseded: 29/08/2023
Alternative versions:
Status:
Point in time view as at 13/03/2018. This version of this provision has been superseded.
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Banking Act 2009, Section 187 is up to date with all changes known to be in force on or before 20 January 2025. 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.
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187De-recognitionU.K.
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adran has no associated
Nodiadau Esboniadol
(1)The Treasury may revoke a recognition order.
(2)The Treasury must revoke a recognition order if not satisfied that the criteria in section 185 are met in respect of the recognised F1... payment system.
(3)Before revoking a recognition order the Treasury must—
(a)consult the Bank of England [F2and the Payment Systems Regulator],
(b)notify the operator of the recognised F3... payment system, and
(c)consider any representations made.
[F4(4)In addition, the Treasury—
(a)must consult the FCA before revoking a recognition order in respect of a payment system the operator of which—
(i)is, or has applied to become, a recognised investment exchange, or
(ii)has, or has applied for, a Part 4A permission, and
(b)if the operator has, or has applied for, a Part 4A permission for the carrying on of a PRA-regulated activity, must also consult the PRA.]
(5)The Treasury must consider any request by the operator of a recognised F5... payment system for the revocation of its recognition order.
Textual Amendments
F1Word in s. 187(2) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 9
F2Words in s. 187(3)(a) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(7)
F3Word in s. 187(3)(b) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 9
F4S. 187(4) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(5), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F5Word in s. 187(5) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 9
Commencement Information
I1S. 187 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 3
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