Section 188 PrinciplesI1

United Kingdom

(1)

The Bank of England may publish—

F1(a)

principles to which operators of recognised F2... payment systems are to have regard in operating the systems F3and

F4(b)

principles to which recognised DSA service providers are to have regard in the provision of services to payment systems (whether or not recognised),

F5(c)

principles to which service providers are to have regard in the provision of services to such systems F6or to such DSA service providers.

(2)

Before publishing principles the Bank must obtain the approval of the Treasury.

Annotations

F1: Words in s. 188(1) renumbered as s. 188(1)(a) (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 15(2)(a)
F2: Word in s. 188(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 10
F3: Words in s. 188(1) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(8)
F4: S. 188(1)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 15(2)(b)
F5: Words in s. 188(1) renumbered as s. 188(1)(c) (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 15(2)(c)
F6: Words in s. 188(1)(c) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 15(2)(d)

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