Banking Act 2009, Section 186A is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)The Treasury may amend a recognition order.
(2)Before amending a recognition order the Treasury must—
(a)consult the Bank of England [F2and the Payment Systems Regulator],
[F3(aa)in the case of a recognition order in respect of a DSA service provider, consult the FCA,]
(b)notify the operator of the recognised F4... payment system [F5or the recognised DSA service provider (as appropriate)], and
(c)consider any representations made.
[F6(See section 206A(4) for the procedure to be followed before amending a recognition order so as to specify a person under section 206A(2)(b) (service providers in relation to recognised payment systems) in the order.)]
[F7(2A)Before amending a recognition order so as to revoke or amend the specification of a person under section 206A(2)(b), the Treasury must also—
(a)consult the FCA and the PRA,
(b)notify the specified person, and
(c)consider any representations made.]
(3)In addition, the Treasury—
(a)must consult the FCA before amending a recognition order in respect of a payment system [F8or a DSA service provider, where the operator of the system or the provider]—
(i)is, or has applied to become, a recognised investment exchange, or
(ii)has, or has applied for, a Part 4A permission, and
(b)if the operator [F9or provider] has, or has applied for, a Part 4A permission for the carrying on of a PRA-regulated activity, must also consult the PRA.
(4)The Treasury must consider any request by the operator of a recognised F10... payment system [F11or by a recognised DSA service provider] for the amendment of its recognition order [F12or any request by a service provider in relation to such a system [F13or provider,] for the amendment or revocation of its specification].]
Textual Amendments
F1S. 186A inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(2), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2Words in s. 186A(2)(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(6)(a)(i)
F3S. 186A(2)(aa) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 13(2)
F4Word in s. 186A(2)(b) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 8
F5Words in s. 186A(2)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 13(3)
F6Words in s. 186A(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(6)(a)(ii)
F7S. 186A(2A) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(6)(b)
F8Words in s. 186A(3)(a) substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 13(4)
F9Words in s. 186A(3)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 13(5)
F10Word in s. 186A(4) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 8
F11Words in s. 186A(4) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 13(6)(a)
F12Words in s. 186A(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(6)(c)
F13Words in s. 186A(4) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 13(6)(b)
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