Regulation 16 Designation of alternative arrangements etc.

(1)

Schedule 4 makes provision in connection with—

(a)

the designation of alternative arrangements; and

(b)

the powers of the Payment Systems Regulator over operators of switching services designated as alternative arrangements.

(2)

Schedule 5 makes provision in connection with—

(a)

fees connected with an alternative arrangement;

(b)

compensation for financial losses incurred by consumers switching accounts under an alternative arrangement; and

(c)

information relating to an alternative arrangement that a payment service provider must make available to consumers.

Notes on the whole SI

F1: Regulations revoked (14.12.2023 for the revocation of reg. 44) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xiv)