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Section 184 Recognition order : payment systemF6I1

United Kingdom

(1)

The Treasury may by order (“recognition order”) specify F1a payment system as a recognised system for the purposes of this Part.

(2)

A recognition order must specify in as much detail as is reasonably practicable the arrangements which constitute the F2... payment system.

(3)

The Treasury may not specify F3a payment system operated solely by the Bank of England.

F4(4)

See section 206A for the power to specify in a recognition order a person as a person who provides services that form part of the arrangements constituting F5or connected with the recognised system.

Annotations

Textual amendments

F1

Word in s. 184(1) substituted (27.6.2017) by Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 6(2)

F2

Word in s. 184(2) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 6(3)

F3

Words in s. 184(3) substituted (27.6.2017) by Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 6(4)

F4

S. 184(4) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(4)

F5

Words in s. 184(4) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 8

F6

Words in s. 184 heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 7

Commencement

I1

S. 184 in force at 4.8.2009 by S.I. 2009/2038, art. 2, Sch. para. 3

Notes on Part 5

Textual amendments

F1

Word in Pt. 5 heading omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 2

F2

Words in Pt. 5 heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 2

Notes on Recognised systems and service providers

Textual amendments

F1

Words in s. 184 cross-heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 6