Section 191 Directions

United Kingdom

(1)

F1The Bank of England may give directions in writing to—

(a)

the operator of a recognised F3... F4payment system,

(b)

F5to a recognised DSA service provider, or

(c)

F7 a service provider in relation to such a system F8or to such DSA service providers.

(2)

A direction may—

(a)

require or prohibit the taking of specified action in the operation of the system F9or the provision of services F10...;

(b)

set standards to be met in the operation of the system F11or the provision of services F12....

(3)

If a direction is given for the purpose of resolving or reducing a threat to the stability of the UK financial system, the operator F13, DSA service provider F14or service provider (including F15the operator’s F16, DSA service provider’s or service provider’s officers and staff) has immunity from liability in damages in respect of action or inaction in accordance with the direction.

(4)

A direction given for the purpose mentioned in subsection (3) must—

(a)

include a statement that it is given for that purpose, and

(b)

inform the operator F17, DSA service provider F18or service provider of the effect of that subsection.

(5)

The Treasury may by order confer immunity on any person from liability in damages in respect of action or inaction in accordance with a direction (including a direction given for the purpose mentioned in subsection (3)).

(6)

An order—

(a)

is to be made by statutory instrument, and

(b)

is subject to annulment in pursuance of a resolution of either House of Parliament.

(7)

An immunity conferred by or under this section does not extend to action or inaction—

(a)

in bad faith, or

(b)

in contravention of section 6(1) of the Human Rights Act 1998.

Annotations

Textual amendments

F1: S. 191 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(3), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2: Words in s. 191(1) renumbered as s. 191(1)(a) (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(2)(a)
F3: Word in s. 191(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 13
F4: Word in s. 191(1) inserted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 10 para. 8; S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
F5: S. 191(1)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(2)(b)
F6: Words in s. 191(1) renumbered as s. 191(1)(c) (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(2)(c)
F7: Words in s. 191(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(11)(a)
F8: Words in s. 191(1)(c) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(2)(d)
F9: Words in s. 191(2)(a) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(11)(b)
F10: Words in s. 191(2)(a) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(3)(a)
F11: Words in s. 191(2)(b) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(11)(b)
F12: Words in s. 191(2)(b) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(3)(b)
F13: Words in s. 191(3) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(4)(a)
F14: Words in s. 191(3) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(11)(c)(i)
F15: Words in s. 191(3) substituted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(11)(c)(ii)
F16: Words in s. 191(3) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(4)(b)
F17: Words in s. 191(4)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 19(5)
F18: Words in s. 191(4)(b) inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(11)(d)