Monitoring and enforcement
This section has no associated Explanatory Memorandum
4.—(1) The Authority must maintain arrangements designed to enable it to determine whether payment service providers on whom requirements are imposed by the Community Regulation are complying with them.
(2) The arrangements referred to in paragraph (1) may provide for functions to be performed on behalf of the Authority by any body or person who is, in its opinion, competent to perform them.
(3) The Authority must also maintain arrangements for enforcing the provisions of these Regulations.
(4) Paragraph (2) does not affect the Authority’s duty under paragraph (1).