Part 5 U.K.F1 ... Payment Systems

Textual Amendments

F1 Word in Pt. 5 heading omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 2

Introduction U.K.

183 Interpretation: other expressions U.K.

In this Part—

(a) a reference to the “operator” of [F2 a] payment system is a reference to any person with responsibility under the system for managing or operating it,

(b) a reference to the operation of a system includes a reference to its management,

(c) “the UK financial system” has the meaning given F3 ... by [F4 section 1I] of the Financial Services and Markets Act 2000 F5 ...,

(d) a reference to the Bank of England's role as a monetary authority is to be construed in accordance with section 244(2)(c),

[F6 (e) the FCA” means the Financial Conduct Authority,

(f) “Part 4A permission” has the meaning given by section 55A of the Financial Services and Markets Act 2000,

(g) “the PRA” means the Prudential Regulation Authority,

(h) “PRA-regulated activity” has the meaning given by section 22A of the Financial Services and Markets Act 2000, and

(i) “recognised investment exchange” has the meaning given by section 285 of that Act.]

Textual Amendments

F2 Word in s. 183(a) substituted (27.6.2017) by Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 5

F3 Words in s. 183(c) omitted (8.4.2010) by virtue of Financial Services Act 2010 (c. 28), s. 26(1)(l), Sch. 2 para. 44

F4 Words in s. 183(c) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 53(2)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F5 Words in s. 183(c) omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 53(2)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F6 S. 183(e)-(i) substituted for s. 183(e) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 53(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Commencement Information

I1 S. 183 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 2