SCHEDULES
SCHEDULE 9Bank of England oversight of payment systems
PART 1Extension of Bank of England oversight of payment systems
4
1
Section 182 (interpretation: “inter-bank payment system”) is amended as follows.
2
In subsection (1)—
a
omit “inter-bank”;
b
omit the words from “between financial institutions” to the end.
3
After subsection (1) insert—
1A
But “payment system” does not include any arrangements for the physical movement of cash.
4
Omit subsections (2) and (3).
5
In subsection (5) for “an inter-bank” substitute “
a
”
.
6
In the heading omit “inter-bank”.