184Recognition order [F1: payment system] U.K.
(1)The Treasury may by order (“recognition order”) specify [F2a] 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 F3... payment system.
(3)The Treasury may not specify [F4a payment] system operated solely by the Bank of England.
[F5(4)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 [F6or connected with] the recognised system.]
Textual Amendments
F1Words in s. 184 heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 7
F2Word in s. 184(1) substituted (27.6.2017) by Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 6(2)
F3Word in s. 184(2) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 6(3)
F4Words in s. 184(3) substituted (27.6.2017) by Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 6(4)
F5S. 184(4) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(4)
F6Words in s. 184(4) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 8
Commencement Information
I1S. 184 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 3