The Treasury may by order (“recognition order”) specify F2a payment system as a recognised system for the purposes of this Part.

A recognition order must specify in as much detail as is reasonably practicable the arrangements which constitute the F3... payment system.

The Treasury may not specify F4a payment system operated solely by the Bank of England.

See section 206A for the power to specify in a recognition order a person as a person who provides services that form part of the arrangements constituting F6or connected with the recognised system.