Valid from 01/03/2014
46Amendment of designation orderU.K.
This section has no associated Explanatory Notes
(1)The Treasury may amend a designation order.
(2)Before amending a designation order made in respect of a payment system, the Treasury must—
(a)consult the Payment Systems Regulator and, if the payment system is a recognised inter-bank payment system, the Bank of England,
(b)notify the operator of the payment system, and
(c)consider any representations made.
(3)The Treasury must consider any request by the operator of a regulated payment system for the amendment of its designation order.