Functions and duty of a payments distributor
16.—(1) It is a function of a payments distributor—
(a)to assist the DAS Administrator and any continuing money adviser with, and advise on, payments distribution;
(b)to distribute sums received in accordance with the debt payment programme;
(c)to provide payment and distribution reports to the DAS Administrator, any continuing money adviser, and to creditors;
(d)to provide information to the DAS Administrator about the exercise of a function of a payments distributor; and
(e)to remit the fee payable in accordance with regulation 5 to the DAS Administrator.
(2) On an approval being revoked under regulation 15 or a distributor otherwise ceasing to act, the distributor whose approval is revoked, or who ceases to act, must transfer to a substitute payments distributor specified by the DAS Administrator the debt payment programmes for which that first distributor is responsible, within a reasonable period specified by the DAS Administrator.
(3) A payments distributor must have regard to guidance issued by the DAS Administrator when carrying out a function of a distributor.