[F1186AAmendment of recognition orderU.K.
(1)The Treasury may amend a recognition order.
(2)Before amending a recognition order the Treasury must—
(a)consult the Bank of England,
(b)notify the operator of the recognised F2... payment system, and
(c)consider any representations made.
(3)In addition, the Treasury—
(a)must consult the FCA before amending a recognition order in respect of a payment system the operator of which—
(i)is, or has applied to become, a recognised investment exchange, or
(ii)has, or has applied for, a Part 4A permission, and
(b)if the operator has, or has applied for, a Part 4A permission for the carrying on of a PRA-regulated activity, must also consult the PRA.
(4)The Treasury must consider any request by the operator of a recognised F3... payment system for the amendment of its recognition order.]
Textual Amendments
F1S. 186A inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 104(2), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2Word in s. 186A(2)(b) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 8
F3Word in s. 186A(4) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 8