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Banking Act 2009

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Changes over time for: Section 206A

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Version Superseded: 29/08/2023

Status:

Point in time view as at 31/12/2020. This version of this provision has been superseded. Help about Status

Changes to legislation:

Banking Act 2009, Section 206A is up to date with all changes known to be in force on or before 14 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

[F1206AServices forming part of recognised F2... payment systemsU.K.

This section has no associated Explanatory Notes

(1)The Treasury may by order make provision applying any provision of this Part to persons who are service providers in relation to a recognised F3... payment system.

(2)A person is a service provider in relation to a recognised F4... payment system if—

(a)the person provides services that form part of the arrangements constituting the system, and

(b)the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the system.

(3)Telecommunication or information technology services are examples of the kind of services that may fall within subsection (2)(a).

(4)Before specifying persons under subsection (2)(b), the Treasury must—

(a)consult the Bank of England [F5, the Payment Systems Regulator] [F6, the FCA and the PRA],

(b)notify the operator of the system and the persons whom the Treasury proposes to specify, and

(c)consider any representations made.

(5)The Treasury may not specify the Bank of England under subsection (2)(b).

(6)Before making an order under subsection (1), the Treasury must consult—

(a)the Bank of England,

[F7(b)the FCA,

(ba)the PRA, and]

(c)such other persons as the Treasury consider appropriate.

(7)An order under subsection (1)—

(a)may modify any provision of this Part in its application to persons who are service providers in relation to a recognised F8... payment system;

(b)may (but need not) take the form of textual amendment.

(8)An order under subsection (1)—

(a)is to be made by statutory instrument, and

(b)may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.]

Textual Amendments

F1S. 206A inserted (8.4.2010) by Financial Services Act 2010 (c. 28), ss. 20, 26(1)(f)

F2Word in s. 206A heading omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28

F3Word in s. 206A(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28

F4Word in s. 206A(2) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28

F6Words in s. 206A(4)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(10)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F7S. 206A(6)(b)(ba) substituted for s. 206A(6)(b) (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(10)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F8Word in s. 206A(7)(a) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28

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