Section 71 Meaning of “compliance failure”I1
United Kingdom
In this Part “compliance failure” means a failure by a participant in a regulated payment system to—
comply with a direction given under section 54, F1...
comply with a requirement imposed under section 55 or 56 F2; or
comply with rules made by the Regulator under paragraph 9A of Schedule 4.
Annotations
Textual amendments
- F1
Word in s. 71(a) omitted (26.10.2018) by virtue of The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(3)(a)
- F2
S. 71(c) and word inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(3)(b)
Commencement
- I1
S. 71 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1