Banking Act 2009

Miscellaneous U.K.

203 Fees U.K.

(1) The Bank of England may require operators of recognised F1 ... payment systems [F2 , and service providers in relation to such systems,] to pay fees.

(2) A requirement under subsection (1) must relate to a scale of fees approved by the Treasury by regulations.

(3) Regulations under subsection (2)—

(a) shall be made by statutory instrument, and

(b) shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(4) A requirement under subsection (1) may be enforced by the Bank as a debt.

Textual Amendments

F1 Word in s. 203(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 25

F2 Words in s. 203(1) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(24)

Commencement Information

I1 S. 203 in force at 12.11.2009 for specified purposes and 31.12.2009 in so far as not already in force by S.I. 2009/3000, arts. 2, 4, Sch. para. 3

[F3 203A Records U.K.

(1) The Bank of England must maintain satisfactory arrangements for—

(a) recording decisions made in the exercise of its functions under this Part, and

(b) the safe-keeping of those records which it considers ought to be preserved.

(2) The duty in subsection (1) does not apply to a decision to issue a notice under section 204(1).

Textual Amendments

F3 Ss. 203A, 203B inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(8), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

203B Annual report U.K.

(1) At least once a year the Bank of England must make a report to the Treasury on—

(a) the discharge of its functions under this Part,

(b) the extent to which, in its opinion, in discharging those functions its financial stability objective has been met, and

(c) such other matters as the Treasury may from time to time direct.

(2) Subsection (1) does not require the inclusion in the report of any information whose publication would in the opinion of the Bank of England be against the public interest.

(3) The Treasury must lay before Parliament a copy of each report received by them under this section.]

Textual Amendments

F3 Ss. 203A, 203B inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(8), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

204 Information U.K.

(1) The Bank of England may by notice in writing require a person to provide information—

(a) which the Bank thinks will help the Treasury in determining whether to make a recognition order [F4 or an order under section 206A] [F5 , or to specify a person under section 206A(2)(b)], or

(b) which the Bank otherwise requires in connection with its functions under this Part.

[F6 (1A) The Bank of England may by notice in writing require the operator of a recognised F7 ... payment system [F8 or a service provider in relation to such a system] to provide information which the Bank requires in connection with the exercise of its functions (whether under this Part or otherwise) in pursuance of its financial stability objective.]

(2) In particular, a notice [F9 under subsection (1) or (1A)] may require the operator of a recognised F10 ... payment system [F11 or a service provider in relation to such a system] to notify the Bank if events of a specified kind occur.

(3) A notice [F12 under subsection (1) or (1A)] may require information to be provided—

(a) in a specified form or manner;

(b) at a specified time;

(c) in respect of a specified period.

(4) The Bank may disclose information obtained by virtue of this section to—

(a) the Treasury;

[F13 (b) the FCA;

F14 (ba) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(c) an authority in a country or territory outside the United Kingdom which exercises functions similar to those of the Treasury, the Bank of England [F15 , the FCA or the PRA] in relation to F16 ... payment systems;

(d) the European Central Bank;

(e) the Bank for International Settlements.

(5) Subsection (4)—

(a) overrides a contractual or other requirement to keep information in confidence, and

(b) is without prejudice to any other power to disclose information.

(6) The Treasury may by regulations permit the disclosure of information obtained by virtue of this section to a specified person.

(7) The Bank may publish information obtained by virtue of this section.

(8) The Treasury may make regulations about the manner and extent of publication under subsection (7).

(9) Regulations under this section—

(a) shall be made by statutory instrument, and

(b) shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(10) It is an offence—

(a) to fail without reasonable excuse to comply with a requirement under this section;

(b) knowingly or recklessly to give false information in pursuance of this section.

(11) A person guilty of an offence is liable—

(a) on summary conviction, to a fine not exceeding the statutory maximum, or

(b) on conviction on indictment, to a fine.

Textual Amendments

F4 Words in s. 204(1)(a) inserted (8.4.2010) by Financial Services Act 2010 (c. 28), s. 26(1)(l), Sch. 2 para. 45

F5 Words in s. 204(1)(a) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(25)(a)

F6 S. 204(1A) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F7 Word in s. 204(1A) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 26

F8 Words in s. 204(1A) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(25)(b)

F9 Words in s. 204(2) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F10 Word in s. 204(2) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 26

F11 Words in s. 204(2) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(25)(b)

F12 Words in s. 204(3) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F13 S. 204(4)(b)(ba) substituted for s. 204(4)(b) (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(c), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F14 S. 204(4)(ba) omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 60 (with Sch. 3); S.I. 2017/43, reg. 2(g)

F15 Words in s. 204(4)(c) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(9)(d), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F16 Word in s. 204(4)(c) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 26

Commencement Information

I2 S. 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. 4

I3 S. 204(1)(b)(4)(c)(4)(d)(4)(e)(7) in force at 31.12.2009 by S.I. 2009/3000, art. 4, Sch. para. 4

205 Pretending to be recognised U.K.

(1) It is an offence for the operator of a non-recognised F17 ... payment system—

(a) to assert that the system is recognised, or

(b) to do anything which suggests that the system is recognised.

[F18 (1A) It is an offence for a person who is not a service provider in relation to a recognised payment system—

(a) to assert that the person is such a service provider, or

(b) to do anything which suggests that the person is such a service provider.]

(2) A person guilty of an offence is liable—

(a) on summary conviction, to a fine not exceeding the statutory maximum, or

(b) on conviction on indictment, to a fine.

Textual Amendments

F17 Word in s. 205(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 27

F18 S. 205(1A) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(26)

Commencement Information

I4 S. 205 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 5

206 Saving for informal oversight U.K.

(1) Nothing in this Part prevents the Bank of England from having dealings with the operators of payment systems [F19 , or persons who provide services in relation to payment systems,] to which this Part does not apply.

(2) Nothing in this Part prevents the Bank from having dealings, other than through the provisions of this Part, with the operators of payment systems [F20 , or persons who provide services in relation to payment systems,] to which this Part does apply.

Textual Amendments

F19 Words in s. 206(1) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(27)

F20 Words in s. 206(2) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(27)

Commencement Information

I5 S. 206 in force at 31.12.2009 by S.I. 2009/3000, art. 4, Sch. para. 5

[F21 206A Services forming part of recognised F22 ... payment systems U.K.

(1) The Treasury may by order make provision applying any provision of this Part to persons who are service providers in relation to a recognised F23 ... payment system.

(2) A person is a service provider in relation to a recognised F24 ... payment system if—

(a) the person provides services that form part of the arrangements constituting the system, and

(b) the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the system.

(3) Telecommunication or information technology services are examples of the kind of services that may fall within subsection (2)(a).

(4) Before specifying persons under subsection (2)(b), the Treasury must—

(a) consult the Bank of England [F25 , the Payment Systems Regulator] [F26 , the FCA and the PRA],

(b) notify the operator of the system and the persons whom the Treasury proposes to specify, and

(c) consider any representations made.

(5) The Treasury may not specify the Bank of England under subsection (2)(b).

(6) Before making an order under subsection (1), the Treasury must consult—

(a) the Bank of England,

[F27 (b) the FCA,

(ba) the PRA, and]

(c) such other persons as the Treasury consider appropriate.

(7) An order under subsection (1)—

(a) may modify any provision of this Part in its application to persons who are service providers in relation to a recognised F28 ... payment system;

(b) may (but need not) take the form of textual amendment.

(8) An order under subsection (1)—

(a) is to be made by statutory instrument, and

(b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.]

Textual Amendments

F21 S. 206A inserted (8.4.2010) by Financial Services Act 2010 (c. 28), ss. 20, 26(1)(f)

F22 Word in s. 206A heading omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28

F23 Word in s. 206A(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28

F24 Word in s. 206A(2) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28

F25 Words in s. 206A(4)(a) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(28)

F26 Words in s. 206A(4)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(10)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F27 S. 206A(6)(b)(ba) substituted for s. 206A(6)(b) (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(10)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F28 Word in s. 206A(7)(a) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28

[F29 206B International obligations U.K.

(1) If it appears to the Treasury that any action proposed to be taken by the Bank of England in exercising its powers under this Part would be incompatible with EU obligations or any other international obligations of the United Kingdom, the Treasury may direct the Bank not to take that action.

(2) If it appears to the Treasury that any action which the Bank of England has power under this Part to take is required for the purpose of implementing any such obligation, the Treasury may direct the Bank to take that action.

(3) A direction under this section—

(a) may include such supplemental or incidental requirements as the Treasury consider necessary or expedient, and

(b) is enforceable on an application by the Treasury, by injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.]

Textual Amendments

F29 S. 206B inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 105, 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.