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The Payment Accounts Regulations 2015
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Cancellation of designation
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6.—(1) A designation certificate may be cancelled by the Regulator if at any time it appears to it that the switching service to which the certificate relates no longer meets the requirements of regulation 15(2).
(2) For the purpose of monitoring whether a switching service, following designation as an alternative arrangement, continues to meet the requirements of regulation 15(2), the Regulator may by notice in writing require any person to provide such information or documents as it may reasonably require.
(3) The Regulator may cancel a designation certificate, provided that it gives the operator notice in writing of the cancellation, and the reason for the cancellation, at least three months before the date upon which the cancellation takes effect.
(4) Any notice given pursuant to sub-paragraph (3) must notify the operator of the operator’s right to appeal the Regulator’s decision to the Tribunal pursuant to paragraph 12(1)(b).
(5) A designation certificate may be cancelled at any time at the request of the operator.
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