Regulation 28 Monitoring and enforcement

(1)

The Authority must maintain arrangements for the purpose of enabling it to determine whether payment service providers upon which requirements are imposed by or under—

(a)

Part F1... 3 or 4; or

(b)

regulation 30,

are complying with those requirements.

(2)

The arrangements referred to in paragraph (1) may provide for functions to be performed on behalf of the Authority by any person who is, in its opinion, competent to perform them.

(3)

The Authority must also maintain arrangements for—

(a)

enforcing requirements imposed on payment service providers by or under these Regulations;

(b)

taking action in accordance with regulation 35.

Annotations

Textual amendments

F1: Word in reg. 28(1)(a) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 11(3)

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)