# Banking Act 2009, Section 206G: Wholesale cash oversight orders


(1) The Treasury may by order (a “wholesale cash oversight order”) specify a person as a recognised person for the purposes of this Part.
(2) A person may be specified only if the person—
(a) performs a relevant function in relation to a wholesale cash distribution activity, and
(b) is recognised as having market significance (see section 206H).
(3) The following are relevant functions in relation to a wholesale cash distribution activity—
(a) undertaking the activity;
(b) managing the activity;
(c) providing a service in relation to the activity;
(d) providing financial assistance in relation to the activity.
(4) A wholesale cash oversight order must specify in as much detail as is reasonably practicable—
(a) each wholesale cash distribution activity in relation to which the specified person performs a relevant function, and
(b) each relevant function the person performs.
(5) The Treasury may not make a wholesale cash oversight order in respect of an issuing authority or the Mint.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/206G (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-206G
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.