# The Payment Accounts Regulations 2015, Paragraph 3: Issuing the designation certificate


(1) Where—
(a) an application has been made under paragraph 2;
(b) the applicant has paid any fee charged by virtue of paragraph 4(1); and
(c) the Regulator is satisfied that the requirements of regulation 15(2) are met with respect to the switching service to which the application relates;
the Regulator may issue a designation certificate declaring the switching service to be an alternative arrangement (and identifying the operator of that switching service).
(2) A designation certificate must state the date on which it comes into effect.
(3) Where the Regulator refuses an application for a designation certificate, it must give the applicant a written notice to that effect stating the reasons for the refusal and the right of appeal provided for in paragraph 12.

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Source: https://www.legislation.gov.uk/ukdsi/2015/9780111140697/schedule/4/paragraph/3 (the official version)
Page: https://openlegislation.uk/draft-payment-accounts-regulations-2015/schedule-4/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.