# Financial Services and Markets Act 2000, Section 131R: Designation


(1) The Treasury may designate a person for the purposes of this Part if the person is—
(a) a relevant current account provider, or
(b) an operator of cash access coordination arrangements, and at least one of the participants in the arrangements is a relevant current account provider designated under this section.
(2) A person is designated by giving the person (the “designated person”) a notice in accordance with this Part (a “designation notice”).
(3) A designation notice must specify whether the person is designated in relation to—
(a) the United Kingdom,
(b) Great Britain only, or
(c) Northern Ireland only.
(4) A designation notice given to the operator of cash access coordination arrangements must specify the arrangements in as much detail as is reasonably practicable.
(5) Before giving a designation notice to a person the Treasury must—
(a) consult the FCA,
(b) notify the person, and
(c) consider any representations made.
(6) A designated person must—
(a) comply with rules made by the FCA under section 131V;
(b) comply with directions given by the FCA to the designated person under section 131W.

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Source: https://www.legislation.gov.uk/ukpga/2000/8/section/131R (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/section-131R
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.