# The Payment Services Regulations 2017, Regulation 123: Interpretation of Part 10


In this Part—
“the 2013 Act” means the Financial Services (Banking Reform) Act 2013 ;
“compliance failure” means a failure by a regulated person to comply with—
(a)a qualifying requirement; or
(b)a direction given under regulation 125(1);
...
“general direction” has the meaning given in regulation 125(5);
“general guidance” has the meaning given in regulation 134(2);
“qualifying requirement” means an obligation, prohibition or restriction imposed by—
(a)regulation 61 (information on ATM withdrawal charges),
(b)Part 8 (access to payment systems and bank accounts), with the exception of the obligation imposed on the FCA by regulation 105(5) (access to bank accounts), or
(c)a direction given by the Payment Systems Regulator under regulation 125(2A);
“regulated person” means a person on whom a qualifying requirement is imposed.

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Source: https://www.legislation.gov.uk/uksi/2017/752/regulation/123 (the official version)
Page: https://openlegislation.uk/payment-services-regulations-2017/regulation-123
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.