The Payment Accounts Regulations 2015

Application for designation

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2.—(1) Any person may apply to the Regulator for a certificate (“a designation certificate”) designating a switching service operated by that person as an alternative arrangement.

(2) Any such application—

(a)must be made in such manner as the Regulator may direct; and

(b)must be accompanied by such information as the Regulator may reasonably require for the purpose of determining the application.

(3) The directions and requirements given or imposed under sub-paragraph (2) may differ as between different applications.

(4) Any information to be furnished to the Regulator under this paragraph must be in such form and verified in such manner as it may specify.

(5) Every application must be accompanied by copies of the rules of the switching service to which the application relates, and any guidance relating to that switching service.