F1PART 8BCash access services
Designation
131RDesignation
(1)
The Treasury may designate a person for the purposes of this Part if the person is—
(a)
a relevant current account provider, or
(b)
an operator of cash access coordination arrangements, and at least one of the participants in the arrangements is a relevant current account provider designated under this section.
(2)
A person is designated by giving the person (the “designated person”) a notice in accordance with this Part (a “designation notice”).
(3)
A designation notice must specify whether the person is designated in relation to—
(a)
the United Kingdom,
(b)
Great Britain only, or
(c)
Northern Ireland only.
(4)
A designation notice given to the operator of cash access coordination arrangements must specify the arrangements in as much detail as is reasonably practicable.
(5)
Before giving a designation notice to a person the Treasury must—
(a)
consult the FCA,
(b)
notify the person, and
(c)
consider any representations made.
(6)
A designated person must—
(a)
comply with rules made by the FCA under section 131V;
(b)
comply with directions given by the FCA to the designated person under section 131W.