Regulation 21 Designated credit institutions
(1)
The Treasury must, by giving notice, designate a sufficient number of United Kingdom credit institutions as credit institutions to which the duty in regulation 22 is to apply in order to ensure that—
(a)
access to a payment account with basic features is guaranteed for all eligible consumers in the United Kingdom;
(b)
distortions of competition are prevented.
(2)
Schedule 6 makes provision about the designation of credit institutions for this purpose.
Notes on the whole SI
Textual amendments
- 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)