Financial Services (Banking Reform) Act 2013

Time limit for representations and observations by the Regulator U.K.

5 (1) Sub-paragraph (2) applies where the Payment Systems Regulator wishes to make representations or observations to the CMA in relation to— U.K.

(a) an application for permission to bring an appeal under paragraph 3;

(b) an application for a direction under paragraph 4.

(2) The Payment Systems Regulator must make the representations or observations in writing before the end of 10 working days beginning with the first working day after the day on which it received a copy of the application under paragraph 3(5) or 4(4) (as the case may be).

(3) Sub-paragraph (4) applies where an application for permission to bring an appeal has been granted and the Payment Systems Regulator wishes to make representations or observations to the CMA in relation to—

(a) the Payment Systems Regulator's reasons for the decision in relation to which the appeal is being brought;

(b) any grounds on which that appeal is being brought against that decision.

(4) The Payment Systems Regulator must make the representations or observations in writing before the end of 15 working days beginning with the first working day after the day on which permission to bring the appeal was granted.

(5) The Payment Systems Regulator must send a copy of the representations and observations it makes under this paragraph to the appellant.

Commencement Information

I1 Sch. 5 para. 5 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1