Financial Services (Banking Reform) Act 2013 (c. 33)

PART 5 U.K. Regulation of payment systems

Enforcement and appeals U.K.

71 Meaning of “compliance failure” U.K.

In this Part “compliance failure” means a failure by a participant in a regulated payment system to—

(a) comply with a direction given under section 54, F1 ...

(b) comply with a requirement imposed under section 55 or 56 [F2 ; or

(c) comply with rules made by the Regulator under paragraph 9A of Schedule 4.]

Textual Amendments

F1 Word in s. 71(a) omitted (26.10.2018) by virtue of The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(3)(a)

F2 S. 71(c) and word inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(3)(b)

Commencement Information

I1 S. 71 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1