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Financial Services (Banking Reform) Act 2013

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Functions of CMA to be discharged by group

This section has no associated Explanatory Notes

2(1)Schedule 4 to the Enterprise and Regulatory Reform Act 2013 is amended as follows.

(2)In paragraph 35(1) (membership of CMA panel), after paragraph (c) insert—

(ca)at least one person (a “payment systems panel member”) appointed to the CMA panel under paragraph 1(1)(b) for the purpose of being available for selection as a member of a group constituted to carry out functions on behalf of the CMA with respect to an appeal made in accordance with section 79 of the Financial Services (Banking Reform) Act 2013 (a “specialist payment systems group”);.

(3)In paragraph 38 (membership of CMA groups), after sub-paragraph (5) insert—

(5A)In the case of a specialist payment systems group, the group must include at least one payment systems member.

(4)In paragraph 48 (performance of functions of chair with respect to constitution etc of CMA group), in sub-paragraph (4)(c), at the end insert—

(v)Schedule 5 to the Financial Services (Banking Reform) Act 2013.

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