(1)This section applies where a person (“the applicant”) applies for an order under this section.
(2)The Payment Systems Regulator may by order require the operator of a regulated payment system to enable the applicant to become a payment service provider in relation to the system.
(3)The Payment Systems Regulator may by order require any payment service provider with direct access to a regulated payment system to enter into an agreement with the applicant to enable the applicant to become a payment service provider in relation to the system.
(4)An order under this section may provide for the applicant to become a payment service provider in relation to a payment system—
(a)for a period specified in the order;
(b)on terms and conditions specified in the order.
Commencement Information
I1S. 56 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1