Part 5... Payment Systems and service providers

Regulation

190System rules

(1)

The Bank of England may require the operator of a recognised F1... payment system—

(a)

to establish rules for the operation of the system F2including the operation of services that form part of the arrangements constituting F3, or connected with, the system and are provided by a service provider F4, or a DSA service provider;

(b)

to change the rules in a specified way or so as to achieve a specified purpose;

(c)

to notify the Bank of any proposed change to the rules;

(d)

not to change the rules without the approval of the Bank.

(2)

A requirement under subsection (1)(c) or (d) may be general or specific.