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”.