Regulation 31 Power of direction: procedure

(1)

A direction given under regulation 30(1) takes effect—

(a)

immediately, if the notice given under paragraph (2) states that this is the case; or

(b)

on such date as may be specified in the notice.

(2)

If the Authority proposes to give a direction to a payment service provider (“A”) under regulation 30(1), or gives such a direction with immediate effect, it must give A written notice.

(3)

The notice must—

(a)

give details of the direction;

(b)

state the Authority’s reasons for giving the direction;

(c)

inform A that A may make representations to the Authority within such period as may be specified in the notice (whether or not A has referred the matter to the Tribunal);

(d)

inform A of when the direction takes effect;

(e)

inform A of the right to refer a matter to the Tribunal conferred by regulation 32.

(4)

The Authority may extend the period allowed under the notice for making representations.

(5)

The Authority must give A written notice if, having considered any representations made by P, the Authority decides—

(a)

to give the direction in the way proposed;

(b)

to rescind a direction that has been given and which took immediate effect;

(c)

not to rescind a direction that has been given and which took immediate effect;

(d)

not to give a direction that it had proposed to give; or

(e)

to give a different direction to the one that it had proposed to give.

(6)

A notice under paragraph (5)(a),(c) or (e) must inform A of A’s right to refer the matter to the Tribunal.

(7)

A notice given under paragraph (5)(e) must comply with paragraph (3).

(8)

Where a notice informs A of A’s right to refer a matter to the Tribunal, it must give an indication of the procedure on such a reference.