(1)It is an offence for the operator of a non-recognised inter-bank payment system—
(a)to assert that the system is recognised, or
(b)to do anything which suggests that the system is recognised.
(2)A person guilty of an offence is liable—
(a)on summary conviction, to a fine not exceeding the statutory maximum, or
(b)on conviction on indictment, to a fine.
Commencement Information
I1S. 205 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 5