# Banking Act 2009, Section 184: Recognition order : payment system

Extent: E+W+S+N.I.

(1) The Treasury may by order (“recognition order”) specify a 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 ... payment system.
(3) The Treasury may not specify a payment system operated solely by the Bank of England.
(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 or connected with the recognised system.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/184 (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-184
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.