SCHEDULES
SCHEDULE 9Bank of England oversight of payment systems
PART 1Extension of Bank of England oversight of payment systems
1
The Banking Act 2009 is amended as follows.
2
In the heading to Part 5 (inter-bank payment systems) omit “Inter-bank”.
3
In section 181 (overview) for “payments between financial institutions” substitute “
transferring money
”
.
4
1
Section 182 (interpretation: “inter-bank payment system”) is amended as follows.
2
In subsection (1)—
a
omit “inter-bank”;
b
omit the words from “between financial institutions” to the end.
3
After subsection (1) insert—
1A
But “payment system” does not include any arrangements for the physical movement of cash.
4
Omit subsections (2) and (3).
5
In subsection (5) for “an inter-bank” substitute “
a
”
.
6
In the heading omit “inter-bank”.
5
In section 183 (interpretation: other expressions), in paragraph (a) for “an inter-bank” substitute “
a
”
.
6
1
Section 184 (recognition order) is amended as follows.
2
In subsection (1) for “an inter-bank” substitute “
a
”
.
3
In subsection (2) omit “inter-bank”.
4
In subsection (3) for “an inter-bank” substitute “
a payment
”
.
7
In section 185 (recognition criteria), in subsection (1) for “an inter-bank” substitute “
a
”
.
8
In section 186A (amendment of recognition order), in subsections (2)(b) and (4), omit “inter-bank”.
9
In section 187 (de-recognition), in subsections (2), (3)(b) and (5), omit “inter-bank”.
10
In section 188 (principles), in subsection (1) omit “inter-bank”.
11
In section 189 (codes of practice) omit “inter-bank”.
12
In section 190 (system rules), in subsection (1) omit “inter-bank”.
13
In section 191 (directions), in subsection (1) omit “inter-bank”.
14
In section 192 (role of FCA and PRA), in subsections (2)(a) and (b) and (3), omit “inter-bank”.
15
In section 193 (inspection), in subsections (1) and (2), omit “inter-bank”.
16
In section 194 (inspection: warrant), in subsection (1)(a) omit “inter-bank”.
17
In section 195 (independent report), in subsection (1) omit “inter-bank”.
18
In section 196 (compliance failure) omit “inter-bank”.
19
In section 197 (publication), in subsection (1) omit “inter-bank”.
20
In section 198 (penalty), in subsection (1) omit “inter-bank”.
21
In section 199 (closure), in subsection (2) omit “inter-bank”.
22
In section 200 (management disqualification), in subsections (1) and (2), omit “inter-bank”.
23
In section 201 (warning), in subsection (1) for “an inter-bank” substitute “
a
”
.
24
In section 202A (injunctions), in subsections (2)(a) and (3)(a), omit “inter-bank”.
25
In section 203 (fees), in subsection (1) omit “inter-bank”.
26
In section 204 (information), in subsections (1A), (2) and (4)(c), omit “inter-bank”.
27
In section 205 (pretending to be recognised), in subsection (1) omit “inter-bank”.
28
In section 206A (services forming part of recognised inter-bank payment system), in subsections (1), (2) and (7)(a) and in the heading, omit “inter-bank”.
29
In section 259 (statutory instruments), in the Table in subsection (3)—
a
in the heading for the entries in Part 5, omit “Inter-bank”;
b
in the entry for section 206A, in the second column omit “inter-bank”.
30
In section 261 (index of defined terms), in the Table—
a
omit the entry for “Inter-bank payment system”;
b
at the appropriate place insert—
Payment system
182