182Interpretation: “inter-bank payment system”U.K.
This section has no associated Explanatory Notes
(1)In 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.
(2)The fact that persons other than financial institutions can participate does not prevent arrangements from being an inter-bank payment system.
(3)In subsection (1) “financial institutions” means—
(a)banks, and
(b)building societies.
(4)In subsection (1) “money” includes credit.
(5)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.
Commencement Information
I1S. 182 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 2