15.—(1) This regulation applies where a payment service provider is a party to and compliant with the requirements of a switching service which the Payment Systems Regulator has designated as an alternative arrangement.
(2) In order to be designated as an alternative arrangement, the Payment Systems Regulator must be satisfied that the switching service —
(a)is clearly in the interest of the consumer;
(b)does not impose upon the consumer any burden additional to those imposed by paragraphs 2 to 6 of Schedule 3;
(c)ensures that the procedure for switching is completed at least within the same overall time-frame that applies in the case of a switching service that meets the requirements of paragraphs 2 to 6 of Schedule 3.