Search Legislation

Digital Economy Act 2017

Status:

This is the original version (as it was originally enacted).

PART 1Extension of Bank of England oversight of payment systems

1The Banking Act 2009 is amended as follows.

2In the heading to Part 5 (inter-bank payment systems) omit “Inter-bank”.

3In 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”.

5In 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”.

7In section 185 (recognition criteria), in subsection (1) for “an inter-bank” substitute “a”.

8In section 186A (amendment of recognition order), in subsections (2)(b) and (4), omit “inter-bank”.

9In section 187 (de-recognition), in subsections (2), (3)(b) and (5), omit “inter-bank”.

10In section 188 (principles), in subsection (1) omit “inter-bank”.

11In section 189 (codes of practice) omit “inter-bank”.

12In section 190 (system rules), in subsection (1) omit “inter-bank”.

13In section 191 (directions), in subsection (1) omit “inter-bank”.

14In section 192 (role of FCA and PRA), in subsections (2)(a) and (b) and (3), omit “inter-bank”.

15In section 193 (inspection), in subsections (1) and (2), omit “inter-bank”.

16In section 194 (inspection: warrant), in subsection (1)(a) omit “inter-bank”.

17In section 195 (independent report), in subsection (1) omit “inter-bank”.

18In section 196 (compliance failure) omit “inter-bank”.

19In section 197 (publication), in subsection (1) omit “inter-bank”.

20In section 198 (penalty), in subsection (1) omit “inter-bank”.

21In section 199 (closure), in subsection (2) omit “inter-bank”.

22In section 200 (management disqualification), in subsections (1) and (2), omit “inter-bank”.

23In section 201 (warning), in subsection (1) for “an inter-bank” substitute “a”.

24In section 202A (injunctions), in subsections (2)(a) and (3)(a), omit “inter-bank”.

25In section 203 (fees), in subsection (1) omit “inter-bank”.

26In section 204 (information), in subsections (1A), (2) and (4)(c), omit “inter-bank”.

27In section 205 (pretending to be recognised), in subsection (1) omit “inter-bank”.

28In 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”.

29In 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”.

30In 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 system182.

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Show Explanatory Notes for Sections: Displays relevant parts of the explanatory notes interweaved within the legislation content.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources