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Banking Act 2009

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Changes over time for: Section 195

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Version Superseded: 27/06/2017

Status:

Point in time view as at 31/12/2009. This version of this provision has been superseded. Help about Status

Changes to legislation:

Banking Act 2009, Section 195 is up to date with all changes known to be in force on or before 29 November 2024. 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. Help about Changes to Legislation

195Independent reportU.K.

This section has no associated Explanatory Notes

(1)The Bank of England may require the operator of a recognised inter-bank payment system to appoint an expert to report on the operation of the system.

(2)The Bank may impose a requirement only if it thinks—

(a)the operator is not taking sufficient account of principles published by the Bank under section 188,

(b)the operator is failing to comply with a code of practice under section 189, or

(c)the report is likely for any other reason to assist the Bank in the performance of its functions under this Part.

(3)The Bank may impose requirements about—

(a)the nature of the expert to be appointed;

(b)the content of the report;

(c)treatment of the report (including disclosure and publication);

(d)timing.

Commencement Information

I1S. 195 in force at 31.12.2009 by S.I. 2009/3000, art. 4, Sch. para. 2

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