{
  "url": "https://openlegislation.uk/eu-decision-2007-7/annex-II/article-14",
  "json_url": "https://openlegislation.uk/eu-decision-2007-7/annex-II/article-14.json",
  "legislation": "eudn/2007/7",
  "legislation_title": "Decision of the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7) (2007/601/EC)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2007-7",
  "path": "annex/II/article/14",
  "kind": "article",
  "number": "14",
  "heading": "Acceptance and rejection of payment orders",
  "text": "1. Payment orders submitted by T2S DCA holders are deemed accepted by the ECB if:\n(a) the payment message complies with the rules established by the T2S network service provider;\n(b) the payment message complies with the formatting rules and conditions of TARGET2-ECB and passes the double-entry check described in Appendix I; and\n(c) in cases where a payer or a payee has been suspended, the suspended participant's CB's explicit consent has been obtained.\n2. The ECB shall immediately reject any payment order that does not fulfil the conditions laid down in paragraph 1. The ECB shall inform the T2S DCA holder of any rejection of a payment order, as specified in Appendix I.\n3 . The T2S Platform attaches its timestamp for the processing of payment orders in the sequence of their receipt.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Inserted by Decision (EU) 2015/929 of the European Central Bank of 26 May 2015 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2015/22)."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Substituted by Decision (EU) 2018/1625 of the European Central Bank of 8 October 2018 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2018/24)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2007/7/annex/II/article/14",
    "retrieved_at": "2026-11-01T15:17:18.350563+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}