Textual Amendments
F1Word in Pt. 5 heading omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 2
F2Words 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
Textual Amendments
F3Words 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
(1)The Treasury may amend a recognition order.
(2)Before amending a recognition order the Treasury must—
(a)consult the Bank of England [F5and the Payment Systems Regulator],
[F6(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 F7... payment system [F8or the recognised DSA service provider (as appropriate)], and
(c)consider any representations made.
[F9(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.)]
[F10(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 [F11or 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 [F12or 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 F13... payment system [F14or by a recognised DSA service provider] for the amendment of its recognition order [F15or any request by a service provider in relation to such a system [F16or provider,] for the amendment or revocation of its specification].]
Textual Amendments
F4S. 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.
F5Words 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)
F6S. 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)
F7Word 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
F8Words 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)
F9Words 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)
F10S. 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)
F11Words 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)
F12Words 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)
F13Word in s. 186A(4) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 8
F14Words 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)
F15Words 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)
F16Words 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)