Section 195 Independent reportI1
United Kingdom
The Bank of England may require
a service provider in relation to a recognised payment system to appoint an expert to report on the provision of services to the system.
a recognised DSA service provider to appoint an expert to report on the provision of services to payment systems (whether or not recognised), or
a service provider in relation to a recognised DSA service provider to appoint an expert to report on the provision of services to the DSA service provider.
The Bank may impose a requirement only if it thinks—
the report is likely for any other reason to assist the Bank in the performance of its functions under this Part.
The Bank may impose requirements about—
the nature of the expert to be appointed;
the content of the report;
treatment of the report (including disclosure and publication);
timing.
Annotations
Textual amendments
- F1
S. 195(1)(a): words in s. 195(1) renumbered as s. 195(1)(a) (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(15)(a)(i)
- F2
Word in s. 195(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 17
- F3
S. 195(1)(b) and word inserted (30.11.2017) by The Banking Act 2009 (Service Providers to Payment Systems) Order 2017 (S.I. 2017/1167), arts. 1(2), 2(15)(a)(ii)
- F4
Word in s. 195(1)(a) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 23(2)
- F5
S. 195(1)(c)(d) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 23(3)
- F6
Words in s. 195(2)(a) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 23(4)
- F7
Words in s. 195(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(15)(b)
- F8
Words in s. 195(2)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 23(5)
- F9
Words in s. 195(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(15)(b)
Commencement
- I1
S. 195 in force at 31.12.2009 by S.I. 2009/3000, art. 4, Sch. para. 2
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