PART 10The Payment Systems Regulator
Directions125.
(1)
The Payment Systems Regulator may give a direction in writing to any regulated person.
(2)
A direction may be given for the purpose of—
(a)
obtaining information about—
(i)
compliance with a F1qualifying requirement; or
(ii)
the application of a F1qualifying requirement to a person;
(b)
remedying a failure to comply with a F1qualifying requirement; or
(c)
preventing a failure to comply, or continued non-compliance, with a F1qualifying requirement.
F2(2A)
The Payment Systems Regulator may give a direction in writing to a provider of cash withdrawal services falling within paragraph 2(o) of Schedule 1 for the purpose of ensuring that a customer using cash withdrawal services is provided with information including any applicable withdrawal charges, and, where a currency conversion service is offered, the exchange rate to be used for converting a payment transaction—
(a)
before the withdrawal, and
(b)
on receipt of the cash.
F3(3)
A direction may—
(a)
require or prohibit the taking of specified action,
(b)
when given under paragraph (2A), set standards to be met by a provider of cash withdrawal services.
(4)
A direction may apply—
(a)
in relation to all regulated persons or in relation to every regulated person of a specified description; or
(b)
in relation to a specified regulated person or specified regulated persons.
F4(4A)
A direction setting standards under paragraph (3)(b) may impose rules on all providers of cash withdrawal services, or on such providers of a specified description.
(5)
A direction that applies as mentioned in paragraph (4)(a) is referred to in this Part as a “general direction”.
(6)
A direction requiring the provision of information must specify the purpose for which the information is required, as appropriate, and the time within which the information is to be given.
(7)
The Payment Systems Regulator must publish any general direction.