{
  "url": "https://openlegislation.uk/financial-services-banking-reform-act-2013/section-73",
  "json_url": "https://openlegislation.uk/financial-services-banking-reform-act-2013/section-73.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/73",
  "kind": "section",
  "number": "73",
  "heading": "Penalties",
  "text": "(1) The Payment Systems Regulator may require a participant in a regulated payment system to pay a penalty in respect of a compliance failure.\n(2) A penalty—\n(a) must be paid to the Payment Systems Regulator, and\n(b) may be enforced by the Payment Systems Regulator as a debt.\n(3) The Payment Systems Regulator must prepare a statement of the principles which it will apply in determining—\n(a) whether to impose a penalty, and\n(b) the amount of a penalty.\n(4) The Payment Systems Regulator must—\n(a) publish the statement on its website,\n(b) send a copy to the Treasury,\n(c) review the statement from time to time and revise it if necessary (and paragraphs (a) and (b) apply to a revision), and\n(d) in applying the statement to a compliance failure, apply the version in force when the compliance failure occurred.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 73 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/73",
    "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."
}