The Payment Accounts Regulations 2015

Power of direction: procedure

31.—(1) A direction given under regulation 30(1) takes effect—

(a) immediately, if the notice given under paragraph (2) states that this is the case; or

(b) on such date as may be specified in the notice.

(2) If the Authority proposes to give a direction to a payment service provider (“A”) under regulation 30(1), or gives such a direction with immediate effect, it must give A written notice.

(3) The notice must—

(a) give details of the direction;

(b) state the Authority’s reasons for giving the direction;

(c) inform A that A may make representations to the Authority within such period as may be specified in the notice (whether or not A has referred the matter to the Tribunal);

(d) inform A of when the direction takes effect;

(e) inform A of the right to refer a matter to the Tribunal conferred by regulation 32.

(4) The Authority may extend the period allowed under the notice for making representations.

(5) The Authority must give A written notice if, having considered any representations made by P, the Authority decides—

(a) to give the direction in the way proposed;

(b) to rescind a direction that has been given and which took immediate effect;

(c) not to rescind a direction that has been given and which took immediate effect;

(d) not to give a direction that it had proposed to give; or

(e) to give a different direction to the one that it had proposed to give.

(6) A notice under paragraph (5)(a),(c) or (e) must inform A of A’s right to refer the matter to the Tribunal.

(7) A notice given under paragraph (5)(e) must comply with paragraph (3).

(8) Where a notice informs A of A’s right to refer a matter to the Tribunal, it must give an indication of the procedure on such a reference.