PART 8Access to payment systems and bank accounts
Prohibition on restrictive rules on access to payment systems103
1
Rules or conditions governing access to, or participation in, a payment system by authorised or registered payment service providers must—
a
be objective, proportionate and non-discriminatory; and
b
not prevent, restrict or inhibit access or participation more than is necessary to—
i
safeguard against specific risks such as settlement risk, operational risk or business risk; or
ii
protect the financial and operational stability of the payment system.
2
Paragraph (1) applies only to such payment service providers as are legal persons.
3
Rules or conditions governing access to, or participation in, a payment system must not, in respect of payment service providers, payment service users or other payment systems—
a
restrict effective participation in other payment systems;
b
discriminate (whether directly or indirectly) between
i
different authorised payment service providers; or
ii
different registered payment service providers;
in relation to the rights, obligations or entitlements of participants in the payment system; or
c
impose any restrictions on the basis of institutional status.