Section 206A Service providersF15
United Kingdom
A person is a service provider in relation to a recognised F5... payment system if—
the person provides services that form part of the arrangements constituting the system, and
the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the system.
A person is a service provider in relation to a recognised DSA service provider if—
the person provides services to the recognised DSA service provider, and
the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the DSA service provider.
A payment system that includes arrangements using digital settlement assets is a service provider in relation to a recognised DSA service provider if—
the system provides services to the recognised DSA service provider, and
the system is specified as a system within paragraph (a) by the Treasury in the recognition order made in respect of the DSA service provider.
Telecommunication or information technology services are examples of the kind of services that may fall within subsection (2)(a).
In relation to a recognised payment system that includes arrangements using digital settlement assets, subsection (2)(a) includes a person providing services connected with the system. See section 206AA.
The Treasury may not specify the Bank of England under subsection (2)(b) F12, (2A)(b) or (2B)(b).
Before making an order under subsection (1), the Treasury must consult—
the Bank of England,
the FCA,
the PRA, and
such other persons as the Treasury consider appropriate.
An order under subsection (1)—
may modify any provision of this Part in its application to persons who are service providers in relation to a recognised F14... payment system;
may (but need not) take the form of textual amendment.
An order under subsection (1)—
is to be made by statutory instrument, and
may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.
Annotations
Textual amendments
- F1
Words in s. 206A(1) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 37(3)(a)
- F2
Words in s. 206A(1) renumbered as s. 206(1)(a) (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 37(3)(b)
- F3
Word in s. 206A(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28
- F4
S. 206A(1)(b) and word inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 37(3)(c)
- F5
Word in s. 206A(2) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28
- F6
S. 206A(2A)(2B) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 37(4)
- F7
S. 206A(3A) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 37(5)
- F8
Words in s. 206A(4) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 37(6)
- F9
Words in s. 206A(4)(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(28)
- F10
Words in s. 206A(4)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(10)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
- F11
Words in s. 206A(4)(b) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 37(7)
- F12
Words in s. 206A(5) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 37(8)
- F13
S. 206A(6)(b)(ba) substituted for s. 206A(6)(b) (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(10)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
- F14
Word in s. 206A(7)(a) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 28
- F15
S. 206A heading substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 37(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