PART 3Designation of banks and credit reference agencies
Power to designate banks and credit reference agencies and to revoke designations9
1
The Treasury may designate a bank or a credit reference agency for the purposes of these Regulations, and may revoke such designation.
2
A designation, or the revocation of a designation—
a
takes effect on the date specified by the Treasury, or
b
if no such date is specified, takes effect immediately.
3
The Treasury may exercise the power in paragraph (1) on its own initiative or at the request of another person.
4
Paragraph (1) is subject to the requirements set out in this Part.