http://www.legislation.gov.uk/ukpga/2009/1/part/5/2009-08-04Banking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2024-05-18Expert Participation2009-08-04 Part 5 Inter-Bank Payment Systems<Emphasis>Introduction</Emphasis>Overview181This Part enables the Bank of England to oversee certain systems for payments between financial institutions.Interpretation: “inter-bank payment system”1821In this Part “inter-bank payment system” means arrangements designed to facilitate or control the transfer of money between financial institutions who participate in the arrangements.2The fact that persons other than financial institutions can participate does not prevent arrangements from being an inter-bank payment system.3In subsection (1) “financial institutions” means—abanks, andbbuilding societies.4In subsection (1) “money” includes credit.5A system is an inter-bank payment system for the purposes of this Part whether or not it operates wholly or partly in relation to persons or places outside the United Kingdom.Interpretation: other expressions183In this Part—aa reference to the “operator” of an inter-bank payment system is a reference to any person with responsibility under the system for managing or operating it,ba reference to the operation of a system includes a reference to its management,cthe UK financial system” has the meaning given to “the financial system” by section 3(2) of the Financial Services and Markets Act 2000 (market confidence),da reference to the Bank of England's role as a monetary authority is to be construed in accordance with section 244(2)(c), andethe FSA” means the Financial Services Authority.<Emphasis>Recognised systems</Emphasis>Recognition order1841The Treasury may by order (“recognition order”) specify an inter-bank payment system as a recognised system for the purposes of this Part.2A recognition order must specify in as much detail as is reasonably practicable the arrangements which constitute the inter-bank payment system.3The Treasury may not specify an inter-bank system operated solely by the Bank of England.Recognition criteria1851The Treasury may make a recognition order in respect of an inter-bank payment system only if satisfied that any deficiencies in the design of the system, or any disruption of its operation, would be likely—ato threaten the stability of, or confidence in, the UK financial system, orbto have serious consequences for business or other interests throughout the United Kingdom.2In considering whether to specify a system the Treasury must have regard to—athe number and value of the transactions that the system presently processes or is likely to process in the future,bthe nature of the transactions that the system processes,cwhether those transactions or their equivalent could be handled by other systems,dthe relationship between the system and other systems, andewhether the system is used by the Bank of England in the course of its role as a monetary authority.Procedure1861Before making a recognition order in respect of a payment system the Treasury must—aconsult the Bank of England,bnotify the operator of the system, andcconsider any representations made.2The Treasury must also consult the FSA before making a recognition order in respect of a payment system the operator of which—ais, or has applied to become, a recognised investment exchange within the meaning of section 285 of the Financial Services and Markets Act 2000,bis, or has applied to become, a recognised clearing house within the meaning of that section, orchas, or has applied for, permission under Part 4 of that Act (regulated activities).3In considering whether to make a recognition order in respect of a payment system the Treasury may rely on information provided by the Bank of England or the FSA.De-recognition1871The Treasury may revoke a recognition order.2The Treasury must revoke a recognition order if not satisfied that the criteria in section 185 are met in respect of the recognised inter-bank payment system.3Before revoking a recognition order the Treasury must—aconsult the Bank of England,bnotify the operator of the recognised inter-bank payment system, andcconsider any representations made.4The Treasury must also consult the FSA before revoking a recognition order in respect of a payment system the operator of which—ais, or has applied to become, a recognised investment exchange within the meaning of section 285 of the Financial Services and Markets Act 2000,bis, or has applied to become, a recognised clearing house within the meaning of that section, orchas, or has applied for, permission under Part 4 of that Act (regulated activities).5The Treasury must consider any request by the operator of a recognised inter-bank payment system for the revocation of its recognition order.<Emphasis>Regulation</Emphasis>Principles1881The Bank of England may publish principles to which operators of recognised inter-bank payment systems are to have regard in operating the systems.2Before publishing principles the Bank must obtain the approval of the Treasury.Codes of practice189The Bank of England may publish codes of practice about the operation of recognised inter-bank payment systems.System rules1901The Bank of England may require the operator of a recognised inter-bank payment system—ato establish rules for the operation of the system;bto change the rules in a specified way or so as to achieve a specified purpose;cto notify the Bank of any proposed change to the rules;dnot to change the rules without the approval of the Bank.2A requirement under subsection (1)(c) or (d) may be general or specific.Directions1911The Bank of England may give directions to the operator of a recognised inter-bank payment system.2A direction may—arequire or prohibit the taking of specified action in the operation of the system;bset standards to be met in the operation of the system.3Before giving a direction the Bank must notify the Treasury.4The Treasury may by order confer immunity from liability in damages in respect of action or inaction in accordance with a direction.5An immunity does not extend to action or inaction—ain bad faith, orbin contravention of section 6(1) of the Human Rights Act 1998.6An order—ashall be made by statutory instrument, andbshall be subject to annulment in pursuance of a resolution of either House of Parliament.Role of FSA1921In exercising powers under this Part the Bank of England shall have regard to any action that the FSA has taken or could take.2Before taking action under this Part in respect of a recognised inter-bank payment system the operator of which satisfies section 186(2), the Bank of England must consult the FSA.3If the FSA gives the Bank of England notice that the FSA is considering taking action in respect of the operator of a recognised inter-bank payment system who satisfies section 186(2), the Bank may not take action under this Part in respect of the operator unless—athe FSA consents, orbthe notice is withdrawn.<Emphasis>Enforcement</Emphasis>Inspection1931The Bank of England may appoint one or more persons to inspect the operation of a recognised inter-bank payment system.2The operator of a recognised inter-bank payment system must—agrant an inspector access, on request and at any reasonable time, to premises on or from which any part of the system is operated, andbotherwise co-operate with an inspector.Inspection: warrant1941A justice of the peace may on the application of an inspector issue a warrant entitling an inspector or a constable to enter premises if—aany part of the management or operation of a recognised inter-bank payment system is conducted on the premises (whether by an operator of the system or by someone providing services used by an operator), andbany of the following conditions is satisfied.2Condition 1 is that—aa requirement under section 204 in connection with the payment system has not been complied with, andbthere is reason to believe that information relevant to the requirement is on the premises.3Condition 2 is that there is reason to suspect that if a requirement under section 204 were imposed in connection with the payment system in respect of information on the premises—athe requirement would not be complied with, andbthe information would be destroyed or otherwise tampered with.4Condition 3 is that an inspector—agave reasonable notice of a wish to enter the premises, andbwas refused entry.5Condition 4 is that a person occupying or managing the premises has failed to co-operate with an inspector.6A warrant—apermits an inspector or a constable to enter the premises,bpermits an inspector or a constable to search the premises and copy or take possession of information or documents, andcpermits a constable to use reasonable force.7Sections 15(5) to (8) and 16 of the Police and Criminal Evidence Act 1984 (warrants: procedure) apply to warrants under this section.8In the application of this section to Scotland—athe reference to a justice of the peace includes a reference to a sheriff, andbignore subsection (7).9In the application of this section to Northern Ireland—athe reference to a justice of the peace is a reference to a lay magistrate, andbthe reference to sections 15(5) to (8) and 16 of the Police and Criminal Evidence Act 1984 is a reference to the equivalent provisions of the Police and Criminal Evidence (Northern Ireland) Order 1989.Independent report1951The Bank of England may require the operator of a recognised inter-bank payment system to appoint an expert to report on the operation of the system.2The Bank may impose a requirement only if it thinks—athe operator is not taking sufficient account of principles published by the Bank under section 188,bthe operator is failing to comply with a code of practice under section 189, orcthe report is likely for any other reason to assist the Bank in the performance of its functions under this Part.3The Bank may impose requirements about—athe nature of the expert to be appointed;bthe content of the report;ctreatment of the report (including disclosure and publication);dtiming.Compliance failure196In this Part “compliance failure” means a failure by the operator of a recognised inter-bank payment system to—acomply with a code of practice under section 189,bcomply with a requirement under section 190,ccomply with a direction under section 191, ordensure compliance with a requirement under section 195.Publication1971The Bank of England may publish details of a compliance failure by the operator of a recognised inter-bank payment system.2The Bank may publish details of a sanction imposed under sections 198 to 200.Penalty1981The Bank of England may require the operator of a recognised inter-bank payment system to pay a penalty in respect of a compliance failure.2A penalty—amust be paid to the Bank of England, andbmay be enforced by the Bank as a debt.3The Bank must prepare a statement of the principles which it will apply in determining—awhether to impose a penalty, andbthe amount of a penalty.4The Bank must—apublish the statement on its internet website,bsend a copy to the Treasury,creview the statement from time to time and revise it if necessary (and paragraphs (a) and (b) apply to a revision), anddin applying the statement to a compliance failure, apply the version in force when the failure occurred.Closure1991This section applies if the Bank of England thinks that a compliance failure—athreatens the stability of, or confidence in, the UK financial system, orbhas serious consequences for business or other interests throughout the United Kingdom.2The Bank may give the operator of the inter-bank payment system concerned an order to stop operating the system (a “closure order”)—afor a specified period,buntil further notice, orcpermanently.3A closure order may apply to—aall activities of the payment system, orbspecified activities.4An operator who fails to comply with a closure order commits an offence.5A person guilty of an offence is liable—aon summary conviction, to a fine not exceeding the statutory maximum, orbon conviction on indictment, to a fine.Management disqualification2001The Bank of England may by order prohibit a specified person from being an operator of a recognised inter-bank payment system—afor a specified period,buntil further notice, orcpermanently.2The Bank may by order prohibit a specified person from holding an office or position involving responsibility for taking decisions about the management of a recognised inter-bank payment system—afor a specified period,buntil further notice, orcpermanently.3A person who breaches a prohibition under subsection (1) or (2) commits an offence.4A person guilty of an offence is liable—aon summary conviction, to a fine not exceeding the statutory maximum, orbon conviction on indictment, to a fine.Warning2011Before imposing a sanction on the operator of an inter-bank payment system or on another person the Bank of England must—agive the operator or other person a notice (a “warning notice”),bgive the operator or other person at least 21 days to make representations,cconsider any representations made, anddas soon as is reasonably practicable, give the operator or other person a notice stating whether or not the Bank intends to impose the sanction.2In subsection (1) “imposing a sanction” means—apublishing details under section 197(1),brequiring the payment of a penalty under section 198,cgiving a closure order under section 199, ordmaking an order under section 200.3Despite subsection (1), if satisfied that it is necessary the Bank may without notice—agive a closure order under section 199, orbmake an order under section 200.Appeal2021Where the Bank of England notifies a person under section 201(1)(d) that the Bank intends to impose a sanction, the person may appeal to the Financial Services and Markets Tribunal.2Where the Bank of England imposes a sanction on a person without notice in reliance on section 201(3), the person may appeal to the Financial Services and Markets Tribunal.3Part 9 of the Financial Services and Markets Act 2000 applies to appeals under this section; and for that purpose—aa reference to the FSA is to be taken as a reference to the Bank of England,bfor section 133(9) of that Act substitute the proposition that a sanction may not be imposed while an appeal could be brought or is pending.cPart 9 is to be read with any other necessary modifications.<Emphasis>Miscellaneous</Emphasis>Fees2031The Bank of England may require operators of recognised inter-bank payment systems to pay fees.2A requirement under subsection (1) must relate to a scale of fees approved by the Treasury by regulations.3Regulations under subsection (2)—ashall be made by statutory instrument, andbshall be subject to annulment in pursuance of a resolution of either House of Parliament.4A requirement under subsection (1) may be enforced by the Bank as a debt.Information2041The Bank of England may by notice in writing require a person to provide information—awhich the Bank thinks will help the Treasury in determining whether to make a recognition order, orbwhich the Bank otherwise requires in connection with its functions under this Part.2In particular, a notice may require the operator of a recognised inter-bank payment system to notify the Bank if events of a specified kind occur.3A notice may require information to be provided—ain a specified form or manner;bat a specified time;cin respect of a specified period.4The Bank may disclose information obtained by virtue of this section to—athe Treasury;bthe FSA;can authority in a country or territory outside the United Kingdom which exercises functions similar to those of the Treasury, the Bank of England or the FSA in relation to inter-bank payment systems;dthe European Central Bank;ethe Bank for International Settlements.5Subsection (4)—aoverrides a contractual or other requirement to keep information in confidence, andbis without prejudice to any other power to disclose information.6The Treasury may by regulations permit the disclosure of information obtained by virtue of this section to a specified person.7The Bank may publish information obtained by virtue of this section.8The Treasury may make regulations about the manner and extent of publication under subsection (7).9Regulations under this section—ashall be made by statutory instrument, andbshall be subject to annulment in pursuance of a resolution of either House of Parliament.10It is an offence—ato fail without reasonable excuse to comply with a requirement under this section;bknowingly or recklessly to give false information in pursuance of this section.11A person guilty of an offence is liable—aon summary conviction, to a fine not exceeding the statutory maximum, orbon conviction on indictment, to a fine.Pretending to be recognised2051It is an offence for the operator of a non-recognised inter-bank payment system—ato assert that the system is recognised, orbto do anything which suggests that the system is recognised.2A person guilty of an offence is liable—aon summary conviction, to a fine not exceeding the statutory maximum, orbon conviction on indictment, to a fine.Saving for informal oversight2061Nothing in this Part prevents the Bank of England from having dealings with the operators of payment systems to which this Part does not apply.2Nothing in this Part prevents the Bank from having dealings, other than through the provisions of this Part, with the operators of payment systems to which this Part does apply.S. 181 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 1S. 182 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 2S. 183 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 2S. 184 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 3S. 185 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 3S. 186 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 3S. 187 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 3S. 204(1)(a)(2)(3)(4)(a)(b)(5)(6)(8)-(11) in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 4S. 205 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 5
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<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/part/5/notes" DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/part/5/notes"/>
<ukm:Alternatives>
<ukm:Alternative Date="2009-02-25" URI="http://www.legislation.gov.uk/ukpga/2009/1/pdfs/ukpgaen_20090001_en.pdf" Title="Explanatory Note"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:Alternatives>
<ukm:Alternative Date="2009-02-13" URI="http://www.legislation.gov.uk/ukpga/2009/1/pdfs/ukpga_20090001_en.pdf" Title="Print Version"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="279"/>
<ukm:BodyParagraphs Value="279"/>
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<Primary>
<Body DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/body/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/body" NumberOfProvisions="279" RestrictEndDate="2009-11-12" RestrictStartDate="2009-08-04">
<Part DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/part/5/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/part/5" NumberOfProvisions="26" RestrictEndDate="2009-11-12" id="part-5" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Number>
<Strong>Part 5</Strong>
</Number>
<Title>Inter-Bank Payment Systems</Title>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/part/5/crossheading/introduction/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/part/5/crossheading/introduction" NumberOfProvisions="3" RestrictEndDate="2010-04-08" id="part-5-crossheading-introduction" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>
<Emphasis>Introduction</Emphasis>
</Title>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>Overview</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/181/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/181" id="section-181">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-a5872e494b83cdf4b27d616bf6a33f40"/>
181
</Pnumber>
<P1para>
<Text>This Part enables the Bank of England to oversee certain systems for payments between financial institutions.</Text>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>Interpretation: “inter-bank payment system”</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/182/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/182" id="section-182">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-28fcc794333e573bc2a69937d365b9a0"/>
182
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/182/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/182/1" id="section-182-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>
In this Part “
<Term id="term-inter-bank-payment-system">inter-bank payment system</Term>
” means arrangements designed to facilitate or control the transfer of money between financial institutions who participate in the arrangements.
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/182/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/182/2" id="section-182-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The fact that persons other than financial institutions can participate does not prevent arrangements from being an inter-bank payment system.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/182/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/182/3" id="section-182-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>
In subsection (1) “
<Term id="term-financial-institutions">financial institutions</Term>
” means—
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/182/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/182/3/a" id="section-182-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>banks, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/182/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/182/3/b" id="section-182-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>building societies.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/182/4/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/182/4" id="section-182-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>
In subsection (1) “
<Term id="term-money">money</Term>
” includes credit.
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/182/5/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/182/5" id="section-182-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>A system is an inter-bank payment system for the purposes of this Part whether or not it operates wholly or partly in relation to persons or places outside the United Kingdom.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2010-04-08" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>Interpretation: other expressions</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/183/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/183" id="section-183">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-ead4662254920ed211883fc8a5549545"/>
183
</Pnumber>
<P1para>
<Text>In this Part—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/183/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/183/a" id="section-183-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>
a reference to the “
<Term id="term-operator">operator</Term>
” of an inter-bank payment system is a reference to any person with responsibility under the system for managing or operating it,
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/183/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/183/b" id="section-183-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>a reference to the operation of a system includes a reference to its management,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/183/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/183/c" id="section-183-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>
<Term id="term-the-uk-financial-system">
the
<Acronym Expansion="United Kingdom">UK</Acronym>
financial system
</Term>
” has the meaning given to “the financial system” by section 3(2) of the Financial Services and Markets Act 2000 (market confidence),
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/183/d/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/183/d" id="section-183-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>a reference to the Bank of England's role as a monetary authority is to be construed in accordance with section 244(2)(c), and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/183/e/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/183/e" id="section-183-e">
<Pnumber>e</Pnumber>
<P3para>
<Text>
<Term id="term-the-fsa">the FSA</Term>
” means the Financial Services Authority.
</Text>
</P3para>
</P3>
</P1para>
</P1>
</P1group>
</Pblock>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/part/5/crossheading/recognised-systems/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/part/5/crossheading/recognised-systems" NumberOfProvisions="4" RestrictEndDate="2013-04-01" id="part-5-crossheading-recognised-systems" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>
<Emphasis>Recognised systems</Emphasis>
</Title>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>Recognition order</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/184/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/184" id="section-184">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-f8c3497cf11b7ddac59edef98523b91b"/>
184
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/184/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/184/1" id="section-184-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Treasury may by order (“recognition order”) specify an inter-bank payment system as a recognised system for the purposes of this Part.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/184/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/184/2" id="section-184-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>A recognition order must specify in as much detail as is reasonably practicable the arrangements which constitute the inter-bank payment system.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/184/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/184/3" id="section-184-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>The Treasury may not specify an inter-bank system operated solely by the Bank of England.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>Recognition criteria</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185" id="section-185">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-ef03f54740cf15c8d386dbdd340d534c"/>
185
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185/1" id="section-185-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Treasury may make a recognition order in respect of an inter-bank payment system only if satisfied that any deficiencies in the design of the system, or any disruption of its operation, would be likely—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/1/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185/1/a" id="section-185-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>to threaten the stability of, or confidence in, the UK financial system, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/1/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185/1/b" id="section-185-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>to have serious consequences for business or other interests throughout the United Kingdom.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185/2" id="section-185-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>In considering whether to specify a system the Treasury must have regard to—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185/2/a" id="section-185-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the number and value of the transactions that the system presently processes or is likely to process in the future,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185/2/b" id="section-185-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the nature of the transactions that the system processes,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/2/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185/2/c" id="section-185-2-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>whether those transactions or their equivalent could be handled by other systems,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/2/d/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185/2/d" id="section-185-2-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>the relationship between the system and other systems, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/185/2/e/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185/2/e" id="section-185-2-e">
<Pnumber>e</Pnumber>
<P3para>
<Text>whether the system is used by the Bank of England in the course of its role as a monetary authority.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2013-04-01" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>Procedure</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186" id="section-186">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-5d66ef5ca6607661936ea8292aa8837c"/>
186
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186/1" id="section-186-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>Before making a recognition order in respect of a payment system the Treasury must—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/1/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186/1/a" id="section-186-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>consult the Bank of England,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/1/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186/1/b" id="section-186-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>notify the operator of the system, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/1/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186/1/c" id="section-186-1-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>consider any representations made.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186/2" id="section-186-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The Treasury must also consult the FSA before making a recognition order in respect of a payment system the operator of which—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186/2/a" id="section-186-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>is, or has applied to become, a recognised investment exchange within the meaning of section 285 of the Financial Services and Markets Act 2000,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186/2/b" id="section-186-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>is, or has applied to become, a recognised clearing house within the meaning of that section, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/2/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186/2/c" id="section-186-2-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>has, or has applied for, permission under Part 4 of that Act (regulated activities).</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/186/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/186/3" id="section-186-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>In considering whether to make a recognition order in respect of a payment system the Treasury may rely on information provided by the Bank of England or the FSA.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2013-04-01" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>De-recognition</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187" id="section-187">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-4935c97586077c3b124fe24417f02469"/>
187
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/1" id="section-187-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Treasury may revoke a recognition order.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/2" id="section-187-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The Treasury must revoke a recognition order if not satisfied that the criteria in section 185 are met in respect of the recognised inter-bank payment system.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/3" id="section-187-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Before revoking a recognition order the Treasury must—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/3/a" id="section-187-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>consult the Bank of England,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/3/b" id="section-187-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>notify the operator of the recognised inter-bank payment system, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/3/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/3/c" id="section-187-3-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>consider any representations made.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/4/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/4" id="section-187-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>The Treasury must also consult the FSA before revoking a recognition order in respect of a payment system the operator of which—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/4/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/4/a" id="section-187-4-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>is, or has applied to become, a recognised investment exchange within the meaning of section 285 of the Financial Services and Markets Act 2000,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/4/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/4/b" id="section-187-4-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>is, or has applied to become, a recognised clearing house within the meaning of that section, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/4/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/4/c" id="section-187-4-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>has, or has applied for, permission under Part 4 of that Act (regulated activities).</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/187/5/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187/5" id="section-187-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>The Treasury must consider any request by the operator of a recognised inter-bank payment system for the revocation of its recognition order.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/part/5/crossheading/regulation/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/part/5/crossheading/regulation" NumberOfProvisions="5" RestrictEndDate="2009-12-31" RestrictStartDate="2009-11-12" Match="false" id="part-5-crossheading-regulation" RestrictExtent="E+W+S+N.I.">
<Title>
<Emphasis>Regulation</Emphasis>
</Title>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Principles</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/188/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/188" id="section-188">
<Pnumber PuncAfter="">188</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/188/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/188/1" id="section-188-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may publish principles to which operators of recognised inter-bank payment systems are to have regard in operating the systems.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/188/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/188/2" id="section-188-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Before publishing principles the Bank must obtain the approval of the Treasury.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2009-12-31" RestrictStartDate="2009-11-12" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Codes of practice</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/189/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/189" id="section-189">
<Pnumber PuncAfter="">189</Pnumber>
<P1para>
<Text>The Bank of England may publish codes of practice about the operation of recognised inter-bank payment systems.</Text>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>System rules</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/190/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/190" id="section-190">
<Pnumber PuncAfter="">190</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/190/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/190/1" id="section-190-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may require the operator of a recognised inter-bank payment system—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/190/1/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/190/1/a" id="section-190-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>to establish rules for the operation of the system;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/190/1/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/190/1/b" id="section-190-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>to change the rules in a specified way or so as to achieve a specified purpose;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/190/1/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/190/1/c" id="section-190-1-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>to notify the Bank of any proposed change to the rules;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/190/1/d/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/190/1/d" id="section-190-1-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>not to change the rules without the approval of the Bank.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/190/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/190/2" id="section-190-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>A requirement under subsection (1)(c) or (d) may be general or specific.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2009-12-31" RestrictStartDate="2009-11-12" ConfersPower="true" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Directions</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191" id="section-191">
<Pnumber PuncAfter="">191</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/1" id="section-191-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may give directions to the operator of a recognised inter-bank payment system.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/2" id="section-191-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>A direction may—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/2/a" id="section-191-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>require or prohibit the taking of specified action in the operation of the system;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/2/b" id="section-191-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>set standards to be met in the operation of the system.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/3" id="section-191-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Before giving a direction the Bank must notify the Treasury.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/4/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/4" id="section-191-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>The Treasury may by order confer immunity from liability in damages in respect of action or inaction in accordance with a direction.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/5/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/5" id="section-191-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>An immunity does not extend to action or inaction—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/5/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/5/a" id="section-191-5-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>in bad faith, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/5/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/5/b" id="section-191-5-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>in contravention of section 6(1) of the Human Rights Act 1998.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/6/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/6" id="section-191-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>An order—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/6/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/6/a" id="section-191-6-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>shall be made by statutory instrument, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/191/6/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/191/6/b" id="section-191-6-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>shall be subject to annulment in pursuance of a resolution of either House of Parliament.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2009-12-31" RestrictStartDate="2009-11-12" Match="false">
<Title>Role of FSA</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/192/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/192" id="section-192">
<Pnumber PuncAfter="">192</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/192/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/192/1" id="section-192-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>In exercising powers under this Part the Bank of England shall have regard to any action that the FSA has taken or could take.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/192/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/192/2" id="section-192-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Before taking action under this Part in respect of a recognised inter-bank payment system the operator of which satisfies section 186(2), the Bank of England must consult the FSA.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/192/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/192/3" id="section-192-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>If the FSA gives the Bank of England notice that the FSA is considering taking action in respect of the operator of a recognised inter-bank payment system who satisfies section 186(2), the Bank may not take action under this Part in respect of the operator unless—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/192/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/192/3/a" id="section-192-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the FSA consents, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/192/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/192/3/b" id="section-192-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the notice is withdrawn.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/part/5/crossheading/enforcement/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/part/5/crossheading/enforcement" NumberOfProvisions="10" RestrictEndDate="2009-12-31" RestrictStartDate="2009-11-12" Match="false" id="part-5-crossheading-enforcement" RestrictExtent="E+W+S+N.I.">
<Title>
<Emphasis>Enforcement</Emphasis>
</Title>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Inspection</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/193/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/193" id="section-193">
<Pnumber PuncAfter="">193</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/193/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/193/1" id="section-193-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may appoint one or more persons to inspect the operation of a recognised inter-bank payment system.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/193/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/193/2" id="section-193-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The operator of a recognised inter-bank payment system must—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/193/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/193/2/a" id="section-193-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>grant an inspector access, on request and at any reasonable time, to premises on or from which any part of the system is operated, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/193/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/193/2/b" id="section-193-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>otherwise co-operate with an inspector.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Inspection: warrant</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194" id="section-194">
<Pnumber PuncAfter="">194</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/1" id="section-194-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>A justice of the peace may on the application of an inspector issue a warrant entitling an inspector or a constable to enter premises if—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/1/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/1/a" id="section-194-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>any part of the management or operation of a recognised inter-bank payment system is conducted on the premises (whether by an operator of the system or by someone providing services used by an operator), and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/1/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/1/b" id="section-194-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>any of the following conditions is satisfied.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/2" id="section-194-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Condition 1 is that—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/2/a" id="section-194-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>a requirement under section 204 in connection with the payment system has not been complied with, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/2/b" id="section-194-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>there is reason to believe that information relevant to the requirement is on the premises.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/3" id="section-194-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Condition 2 is that there is reason to suspect that if a requirement under section 204 were imposed in connection with the payment system in respect of information on the premises—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/3/a" id="section-194-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the requirement would not be complied with, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/3/b" id="section-194-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the information would be destroyed or otherwise tampered with.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/4/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/4" id="section-194-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>Condition 3 is that an inspector—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/4/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/4/a" id="section-194-4-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>gave reasonable notice of a wish to enter the premises, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/4/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/4/b" id="section-194-4-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>was refused entry.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/5/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/5" id="section-194-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>Condition 4 is that a person occupying or managing the premises has failed to co-operate with an inspector.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/6/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/6" id="section-194-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>A warrant—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/6/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/6/a" id="section-194-6-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>permits an inspector or a constable to enter the premises,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/6/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/6/b" id="section-194-6-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>permits an inspector or a constable to search the premises and copy or take possession of information or documents, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/6/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/6/c" id="section-194-6-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>permits a constable to use reasonable force.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/7/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/7" id="section-194-7">
<Pnumber>7</Pnumber>
<P2para>
<Text>Sections 15(5) to (8) and 16 of the Police and Criminal Evidence Act 1984 (warrants: procedure) apply to warrants under this section.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/8/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/8" id="section-194-8">
<Pnumber>8</Pnumber>
<P2para>
<Text>In the application of this section to Scotland—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/8/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/8/a" id="section-194-8-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the reference to a justice of the peace includes a reference to a sheriff, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/8/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/8/b" id="section-194-8-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>ignore subsection (7).</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/9/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/9" id="section-194-9">
<Pnumber>9</Pnumber>
<P2para>
<Text>In the application of this section to Northern Ireland—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/9/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/9/a" id="section-194-9-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the reference to a justice of the peace is a reference to a lay magistrate, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/194/9/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/194/9/b" id="section-194-9-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the reference to sections 15(5) to (8) and 16 of the Police and Criminal Evidence Act 1984 is a reference to the equivalent provisions of the Police and Criminal Evidence (Northern Ireland) Order 1989.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Independent report</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195" id="section-195">
<Pnumber PuncAfter="">195</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/1" id="section-195-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may require the operator of a recognised inter-bank payment system to appoint an expert to report on the operation of the system.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/2" id="section-195-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The Bank may impose a requirement only if it thinks—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/2/a" id="section-195-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the operator is not taking sufficient account of principles published by the Bank under section 188,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/2/b" id="section-195-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the operator is failing to comply with a code of practice under section 189, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/2/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/2/c" id="section-195-2-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>the report is likely for any other reason to assist the Bank in the performance of its functions under this Part.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/3" id="section-195-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>The Bank may impose requirements about—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/3/a" id="section-195-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the nature of the expert to be appointed;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/3/b" id="section-195-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the content of the report;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/3/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/3/c" id="section-195-3-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>treatment of the report (including disclosure and publication);</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/195/3/d/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/195/3/d" id="section-195-3-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>timing.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Compliance failure</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/196/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/196" id="section-196">
<Pnumber PuncAfter="">196</Pnumber>
<P1para>
<Text>
In this Part “
<Term id="term-compliance-failure">compliance failure</Term>
” means a failure by the operator of a recognised inter-bank payment system to—
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/196/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/196/a" id="section-196-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>comply with a code of practice under section 189,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/196/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/196/b" id="section-196-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>comply with a requirement under section 190,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/196/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/196/c" id="section-196-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>comply with a direction under section 191, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/196/d/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/196/d" id="section-196-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>ensure compliance with a requirement under section 195.</Text>
</P3para>
</P3>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Publication</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/197/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/197" id="section-197">
<Pnumber PuncAfter="">197</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/197/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/197/1" id="section-197-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may publish details of a compliance failure by the operator of a recognised inter-bank payment system.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/197/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/197/2" id="section-197-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The Bank may publish details of a sanction imposed under sections 198 to 200.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Penalty</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198" id="section-198">
<Pnumber PuncAfter="">198</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/1" id="section-198-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may require the operator of a recognised inter-bank payment system to pay a penalty in respect of a compliance failure.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/2" id="section-198-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>A penalty—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/2/a" id="section-198-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>must be paid to the Bank of England, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/2/b" id="section-198-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>may be enforced by the Bank as a debt.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/3" id="section-198-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>The Bank must prepare a statement of the principles which it will apply in determining—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/3/a" id="section-198-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>whether to impose a penalty, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/3/b" id="section-198-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the amount of a penalty.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/4/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/4" id="section-198-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>The Bank must—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/4/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/4/a" id="section-198-4-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>publish the statement on its internet website,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/4/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/4/b" id="section-198-4-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>send a copy to the Treasury,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/4/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/4/c" id="section-198-4-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>review the statement from time to time and revise it if necessary (and paragraphs (a) and (b) apply to a revision), and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/198/4/d/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/198/4/d" id="section-198-4-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>in applying the statement to a compliance failure, apply the version in force when the failure occurred.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Closure</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199" id="section-199">
<Pnumber PuncAfter="">199</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/1" id="section-199-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>This section applies if the Bank of England thinks that a compliance failure—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/1/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/1/a" id="section-199-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>threatens the stability of, or confidence in, the UK financial system, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/1/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/1/b" id="section-199-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>has serious consequences for business or other interests throughout the United Kingdom.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/2" id="section-199-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The Bank may give the operator of the inter-bank payment system concerned an order to stop operating the system (a “closure order”)—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/2/a" id="section-199-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>for a specified period,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/2/b" id="section-199-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>until further notice, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/2/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/2/c" id="section-199-2-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>permanently.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/3" id="section-199-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>A closure order may apply to—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/3/a" id="section-199-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>all activities of the payment system, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/3/b" id="section-199-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>specified activities.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/4/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/4" id="section-199-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>An operator who fails to comply with a closure order commits an offence.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/5/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/5" id="section-199-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>A person guilty of an offence is liable—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/5/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/5/a" id="section-199-5-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>on summary conviction, to a fine not exceeding the statutory maximum, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/199/5/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/199/5/b" id="section-199-5-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>on conviction on indictment, to a fine.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2009-12-31" RestrictStartDate="2009-11-12" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Management disqualification</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200" id="section-200">
<Pnumber PuncAfter="">200</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/1" id="section-200-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may by order prohibit a specified person from being an operator of a recognised inter-bank payment system—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/1/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/1/a" id="section-200-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>for a specified period,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/1/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/1/b" id="section-200-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>until further notice, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/1/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/1/c" id="section-200-1-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>permanently.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/2" id="section-200-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The Bank may by order prohibit a specified person from holding an office or position involving responsibility for taking decisions about the management of a recognised inter-bank payment system—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/2/a" id="section-200-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>for a specified period,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/2/b" id="section-200-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>until further notice, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/2/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/2/c" id="section-200-2-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>permanently.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/3" id="section-200-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>A person who breaches a prohibition under subsection (1) or (2) commits an offence.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/4/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/4" id="section-200-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>A person guilty of an offence is liable—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/4/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/4/a" id="section-200-4-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>on summary conviction, to a fine not exceeding the statutory maximum, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/200/4/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/200/4/b" id="section-200-4-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>on conviction on indictment, to a fine.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2009-12-31" RestrictStartDate="2009-11-12" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Warning</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201" id="section-201">
<Pnumber PuncAfter="">201</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/1" id="section-201-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>Before imposing a sanction on the operator of an inter-bank payment system or on another person the Bank of England must—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/1/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/1/a" id="section-201-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>give the operator or other person a notice (a “warning notice”),</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/1/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/1/b" id="section-201-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>give the operator or other person at least 21 days to make representations,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/1/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/1/c" id="section-201-1-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>consider any representations made, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/1/d/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/1/d" id="section-201-1-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>as soon as is reasonably practicable, give the operator or other person a notice stating whether or not the Bank intends to impose the sanction.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/2" id="section-201-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>
In subsection (1) “
<Term id="term-imposing-a-sanction">imposing a sanction</Term>
” means—
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/2/a" id="section-201-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>publishing details under section 197(1),</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/2/b" id="section-201-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>requiring the payment of a penalty under section 198,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/2/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/2/c" id="section-201-2-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>giving a closure order under section 199, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/2/d/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/2/d" id="section-201-2-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>making an order under section 200.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/3" id="section-201-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Despite subsection (1), if satisfied that it is necessary the Bank may without notice—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/3/a" id="section-201-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>give a closure order under section 199, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/201/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/201/3/b" id="section-201-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>make an order under section 200.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2010-04-06" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Appeal</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/202/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/202" id="section-202">
<Pnumber PuncAfter="">202</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/202/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/202/1" id="section-202-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>Where the Bank of England notifies a person under section 201(1)(d) that the Bank intends to impose a sanction, the person may appeal to the Financial Services and Markets Tribunal.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/202/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/202/2" id="section-202-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Where the Bank of England imposes a sanction on a person without notice in reliance on section 201(3), the person may appeal to the Financial Services and Markets Tribunal.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/202/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/202/3" id="section-202-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Part 9 of the Financial Services and Markets Act 2000 applies to appeals under this section; and for that purpose—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/202/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/202/3/a" id="section-202-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>a reference to the FSA is to be taken as a reference to the Bank of England,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/202/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/202/3/b" id="section-202-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>for section 133(9) of that Act substitute the proposition that a sanction may not be imposed while an appeal could be brought or is pending.</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/202/3/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/202/3/c" id="section-202-3-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>Part 9 is to be read with any other necessary modifications.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/part/5/crossheading/miscellaneous/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/part/5/crossheading/miscellaneous" NumberOfProvisions="4" RestrictEndDate="2009-11-12" id="part-5-crossheading-miscellaneous" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>
<Emphasis>Miscellaneous</Emphasis>
</Title>
<P1group RestrictEndDate="2009-12-31" RestrictStartDate="2009-11-12" ConfersPower="true" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Fees</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/203/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/203" id="section-203">
<Pnumber PuncAfter="">203</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/203/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/203/1" id="section-203-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may require operators of recognised inter-bank payment systems to pay fees.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/203/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/203/2" id="section-203-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>A requirement under subsection (1) must relate to a scale of fees approved by the Treasury by regulations.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/203/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/203/3" id="section-203-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Regulations under subsection (2)—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/203/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/203/3/a" id="section-203-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>shall be made by statutory instrument, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/203/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/203/3/b" id="section-203-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>shall be subject to annulment in pursuance of a resolution of either House of Parliament.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/203/4/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/203/4" id="section-203-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>A requirement under subsection (1) may be enforced by the Bank as a debt.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2009-12-31" ConfersPower="true" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>Information</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204" id="section-204">
<Pnumber PuncAfter="">204</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/1" RestrictEndDate="2009-12-31" id="section-204-1" RestrictStartDate="2009-08-04">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Bank of England may by notice in writing require a person to provide information—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/1/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/1/a" id="section-204-1-a" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
a
</Pnumber>
<P3para>
<Text>which the Bank thinks will help the Treasury in determining whether to make a recognition order, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/1/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/1/b" RestrictEndDate="2009-12-31" id="section-204-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>which the Bank otherwise requires in connection with its functions under this Part.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/2" id="section-204-2" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
2
</Pnumber>
<P2para>
<Text>In particular, a notice may require the operator of a recognised inter-bank payment system to notify the Bank if events of a specified kind occur.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/3/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/3" id="section-204-3" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
3
</Pnumber>
<P2para>
<Text>A notice may require information to be provided—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/3/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/3/a" id="section-204-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>in a specified form or manner;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/3/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/3/b" id="section-204-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>at a specified time;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/3/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/3/c" id="section-204-3-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>in respect of a specified period.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/4/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/4" RestrictEndDate="2009-12-31" id="section-204-4" RestrictStartDate="2009-08-04">
<Pnumber>4</Pnumber>
<P2para>
<Text>The Bank may disclose information obtained by virtue of this section to—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/4/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/4/a" id="section-204-4-a" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
a
</Pnumber>
<P3para>
<Text>the Treasury;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/4/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/4/b" id="section-204-4-b" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
b
</Pnumber>
<P3para>
<Text>the FSA;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/4/c/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/4/c" RestrictEndDate="2009-12-31" id="section-204-4-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>an authority in a country or territory outside the United Kingdom which exercises functions similar to those of the Treasury, the Bank of England or the FSA in relation to inter-bank payment systems;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/4/d/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/4/d" RestrictEndDate="2009-12-31" id="section-204-4-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>the European Central Bank;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/4/e/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/4/e" RestrictEndDate="2009-12-31" id="section-204-4-e">
<Pnumber>e</Pnumber>
<P3para>
<Text>the Bank for International Settlements.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/5/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/5" id="section-204-5" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
5
</Pnumber>
<P2para>
<Text>Subsection (4)—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/5/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/5/a" id="section-204-5-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>overrides a contractual or other requirement to keep information in confidence, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/5/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/5/b" id="section-204-5-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>is without prejudice to any other power to disclose information.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/6/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/6" id="section-204-6" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
6
</Pnumber>
<P2para>
<Text>The Treasury may by regulations permit the disclosure of information obtained by virtue of this section to a specified person.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/7/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/7" RestrictEndDate="2009-12-31" id="section-204-7">
<Pnumber>7</Pnumber>
<P2para>
<Text>The Bank may publish information obtained by virtue of this section.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/8/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/8" id="section-204-8" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
8
</Pnumber>
<P2para>
<Text>The Treasury may make regulations about the manner and extent of publication under subsection (7).</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/9/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/9" id="section-204-9" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
9
</Pnumber>
<P2para>
<Text>Regulations under this section—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/9/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/9/a" id="section-204-9-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>shall be made by statutory instrument, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/9/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/9/b" id="section-204-9-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>shall be subject to annulment in pursuance of a resolution of either House of Parliament.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/10/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/10" id="section-204-10" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
10
</Pnumber>
<P2para>
<Text>It is an offence—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/10/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/10/a" id="section-204-10-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>to fail without reasonable excuse to comply with a requirement under this section;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/10/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/10/b" id="section-204-10-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>knowingly or recklessly to give false information in pursuance of this section.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/11/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/11" id="section-204-11" RestrictStartDate="2009-08-04">
<Pnumber>
<CommentaryRef Ref="key-4378d8571c7233c58b96c19ff69c09bc"/>
11
</Pnumber>
<P2para>
<Text>A person guilty of an offence is liable—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/11/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/11/a" id="section-204-11-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>on summary conviction, to a fine not exceeding the statutory maximum, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/204/11/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/204/11/b" id="section-204-11-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>on conviction on indictment, to a fine.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-06-27" RestrictStartDate="2009-08-04" RestrictExtent="E+W+S+N.I.">
<Title>Pretending to be recognised</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/205/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/205" id="section-205">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-b5ea17a43639fbf0487c6da4a6e0064c"/>
205
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/205/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/205/1" id="section-205-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>It is an offence for the operator of a non-recognised inter-bank payment system—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/205/1/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/205/1/a" id="section-205-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>to assert that the system is recognised, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/205/1/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/205/1/b" id="section-205-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>to do anything which suggests that the system is recognised.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/205/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/205/2" id="section-205-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>A person guilty of an offence is liable—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/205/2/a/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/205/2/a" id="section-205-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>on summary conviction, to a fine not exceeding the statutory maximum, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/205/2/b/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/205/2/b" id="section-205-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>on conviction on indictment, to a fine.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2017-11-30" RestrictStartDate="2009-12-31" Match="false" RestrictExtent="E+W+S+N.I.">
<Title>Saving for informal oversight</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/206/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/206" id="section-206">
<Pnumber PuncAfter="">206</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/206/1/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/206/1" id="section-206-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>Nothing in this Part prevents the Bank of England from having dealings with the operators of payment systems to which this Part does not apply.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/206/2/2009-08-04" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/206/2" id="section-206-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Nothing in this Part prevents the Bank from having dealings, other than through the provisions of this Part, with the operators of payment systems to which this Part does apply.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
</Part>
</Body>
</Primary>
<Commentaries>
<Commentary id="key-a5872e494b83cdf4b27d616bf6a33f40" Type="I">
<Para>
<Text>
<CitationSubRef SectionRef="section-181" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/181" id="c5nkiwed2-00008">S. 181</CitationSubRef>
in force at 4.8.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/2038" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="2038" Title="Banking Act 2009 (Commencement No.3) Order 2009" id="c5nkiwed2-00009">S.I. 2009/2038</Citation>
,
<CitationSubRef SectionRef="article-2" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/article/2" CitationRef="c5nkiwed2-00009" id="c5nkiwed2-00010">art. 2</CitationSubRef>
,
<CitationSubRef SectionRef="schedule-paragraph-1" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/schedule/paragraph/1" CitationRef="c5nkiwed2-00009" Operative="true" id="c5nkiwed2-00011">Sch. para. 1</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-28fcc794333e573bc2a69937d365b9a0" Type="I">
<Para>
<Text>
<CitationSubRef SectionRef="section-182" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/182" id="c5nkiwed2-00019">S. 182</CitationSubRef>
in force at 4.8.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/2038" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="2038" Title="Banking Act 2009 (Commencement No.3) Order 2009" id="c5nkiwed2-00020">S.I. 2009/2038</Citation>
,
<CitationSubRef SectionRef="article-2" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/article/2" CitationRef="c5nkiwed2-00020" id="c5nkiwed2-00021">art. 2</CitationSubRef>
,
<CitationSubRef SectionRef="schedule-paragraph-2" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/schedule/paragraph/2" CitationRef="c5nkiwed2-00020" Operative="true" id="c5nkiwed2-00022">Sch. para. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-ead4662254920ed211883fc8a5549545" Type="I">
<Para>
<Text>
S. 183 in force at 4.8.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/2038" id="c5nkiwed2-00031" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="2038" Title="Banking Act 2009 (Commencement No.3) Order 2009">S.I. 2009/2038</Citation>
,
<CitationSubRef id="c5nkiwed2-00032" CitationRef="c5nkiwed2-00031" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/article/2" SectionRef="article-2">art. 2</CitationSubRef>
,
<CitationSubRef id="c5nkiwed2-00033" CitationRef="c5nkiwed2-00031" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/schedule/paragraph/2" SectionRef="schedule-paragraph-2" Operative="true">Sch. para. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-f8c3497cf11b7ddac59edef98523b91b" Type="I">
<Para>
<Text>
<CitationSubRef SectionRef="section-184" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/184" id="c5nkiwed2-00041">S. 184</CitationSubRef>
in force at 4.8.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/2038" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="2038" Title="Banking Act 2009 (Commencement No.3) Order 2009" id="c5nkiwed2-00042">S.I. 2009/2038</Citation>
,
<CitationSubRef SectionRef="article-2" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/article/2" CitationRef="c5nkiwed2-00042" id="c5nkiwed2-00043">art. 2</CitationSubRef>
,
<CitationSubRef SectionRef="schedule-paragraph-3" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/schedule/paragraph/3" CitationRef="c5nkiwed2-00042" Operative="true" id="c5nkiwed2-00044">Sch. para. 3</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-ef03f54740cf15c8d386dbdd340d534c" Type="I">
<Para>
<Text>
<CitationSubRef SectionRef="section-185" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/185" id="c5nkiwed2-00052">S. 185</CitationSubRef>
in force at 4.8.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/2038" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="2038" Title="Banking Act 2009 (Commencement No.3) Order 2009" id="c5nkiwed2-00053">S.I. 2009/2038</Citation>
,
<CitationSubRef SectionRef="article-2" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/article/2" CitationRef="c5nkiwed2-00053" id="c5nkiwed2-00054">art. 2</CitationSubRef>
,
<CitationSubRef SectionRef="schedule-paragraph-3" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/schedule/paragraph/3" CitationRef="c5nkiwed2-00053" Operative="true" id="c5nkiwed2-00055">Sch. para. 3</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-5d66ef5ca6607661936ea8292aa8837c" Type="I">
<Para>
<Text>
S. 186 in force at 4.8.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/2038" id="c5nkiwed2-00064" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="2038" Title="Banking Act 2009 (Commencement No.3) Order 2009">S.I. 2009/2038</Citation>
,
<CitationSubRef id="c5nkiwed2-00065" CitationRef="c5nkiwed2-00064" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/article/2" SectionRef="article-2">art. 2</CitationSubRef>
,
<CitationSubRef id="c5nkiwed2-00066" CitationRef="c5nkiwed2-00064" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/schedule/paragraph/3" SectionRef="schedule-paragraph-3" Operative="true">Sch. para. 3</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-4935c97586077c3b124fe24417f02469" Type="I">
<Para>
<Text>
<CitationSubRef SectionRef="section-187" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/187" id="c5nkiwed2-00074">S. 187</CitationSubRef>
in force at 4.8.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/2038" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="2038" Title="Banking Act 2009 (Commencement No.3) Order 2009" id="c5nkiwed2-00075">S.I. 2009/2038</Citation>
,
<CitationSubRef SectionRef="article-2" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/article/2" CitationRef="c5nkiwed2-00075" id="c5nkiwed2-00076">art. 2</CitationSubRef>
,
<CitationSubRef SectionRef="schedule-paragraph-3" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/schedule/paragraph/3" CitationRef="c5nkiwed2-00075" Operative="true" id="c5nkiwed2-00077">Sch. para. 3</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-4378d8571c7233c58b96c19ff69c09bc" Type="I">
<Para>
<Text>
S. 204(1)(a)(2)(3)(4)(a)(b)(5)(6)(8)-(11) in force at 4.8.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/2038" id="c5nkiwed2-00107" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="2038" Title="Banking Act 2009 (Commencement No.3) Order 2009">S.I. 2009/2038</Citation>
,
<CitationSubRef id="c5nkiwed2-00108" CitationRef="c5nkiwed2-00107" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/article/2" SectionRef="article-2">art. 2</CitationSubRef>
,
<CitationSubRef id="c5nkiwed2-00109" CitationRef="c5nkiwed2-00107" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/schedule/paragraph/4" SectionRef="schedule-paragraph-4" Operative="true">Sch. para. 4</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-b5ea17a43639fbf0487c6da4a6e0064c" Type="I">
<Para>
<Text>
<CitationSubRef SectionRef="section-205" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/205" id="c5nkiwed2-00117">S. 205</CitationSubRef>
in force at 4.8.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/2038" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="2038" Title="Banking Act 2009 (Commencement No.3) Order 2009" id="c5nkiwed2-00118">S.I. 2009/2038</Citation>
,
<CitationSubRef SectionRef="article-2" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/article/2" CitationRef="c5nkiwed2-00118" id="c5nkiwed2-00119">art. 2</CitationSubRef>
,
<CitationSubRef SectionRef="schedule-paragraph-5" URI="http://www.legislation.gov.uk/id/uksi/2009/2038/schedule/paragraph/5" CitationRef="c5nkiwed2-00118" Operative="true" id="c5nkiwed2-00120">Sch. para. 5</CitationSubRef>
</Text>
</Para>
</Commentary>
</Commentaries>
</Legislation>