Part 5F4... Payment Systems F6and service providers
Words in Pt. 5 heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 2
Recognised systems F7and service providers
Words in s. 184 cross-heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 6
I1184Recognition order F8: payment system
1
The Treasury may by order (“recognition order”) specify F1a payment system as a recognised system for the purposes of this Part.
2
A recognition order must specify in as much detail as is reasonably practicable the arrangements which constitute the F2... payment system.
3
The Treasury may not specify F3a payment system operated solely by the Bank of England.
F54
See section 206A for the power to specify in a recognition order a person as a person who provides services that form part of the arrangements constituting F9or connected with the recognised system.
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