55System rulesU.K.
(1)The Payment Systems Regulator may require the operator of a regulated payment system—
(a)to establish rules for the operation of the system;
(b)to change the rules in a specified way or so as to achieve a specified purpose;
(c)to notify the Payment Systems Regulator of any proposed change to the rules;
(d)not to change the rules without the approval of the Payment Systems Regulator.
(2)A requirement under subsection (1)(c) or (d) may be general or specific.
(3)A requirement under this section that is imposed on—
(a)all operators of regulated payment systems, or
(b)every operator of a regulated payment system of a specified description,
is referred to in this Part as a “generally-imposed requirement”.
Commencement Information
I1S. 55 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1