{
  "url": "https://openlegislation.uk/financial-services-banking-reform-act-2013/section-47",
  "json_url": "https://openlegislation.uk/financial-services-banking-reform-act-2013/section-47.json",
  "legislation": "ukpga/2013/33",
  "legislation_title": "Financial Services (Banking Reform) Act 2013",
  "legislation_url": "https://openlegislation.uk/financial-services-banking-reform-act-2013",
  "path": "section/47",
  "kind": "section",
  "number": "47",
  "heading": "Revocation of designation orders",
  "text": "(1) The Treasury may revoke a designation order.\n(2) The Treasury must revoke a designation order if they are not satisfied that the criteria in section 44 are met in respect of the payment system to which the order relates.\n(3) Before revoking a designation order made in respect of a payment system, the Treasury must—\n(a) consult the Payment Systems Regulator and, if the payment system is a recognised ... payment system, the Bank of England,\n(b) notify the operator of the payment system, and\n(c) consider any representations made.\n(4) The Treasury must consider any request by the operator of a regulated payment system for the revocation of its designation order.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 47(3)(a) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 38"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "S. 47 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2013/33/section/47",
    "retrieved_at": "2026-10-29T09:07:58.389751+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."
}