http://www.legislation.gov.uk/ukpga/2009/1/section/206GBanking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2026-02-20Expert Participation2026-01-19 Banking Act 2009s. 4(8A) (8B)Financial Services Act 2012s. 96(3)Sch. 20s. 122(3)Banking Act 2009s. 8(2)(d) and wordFinancial Services Act 2012s. 96(4)(b)Sch. 20s. 122(3) PART 5A206G1The Treasury may by order (a “wholesale cash oversight order”) specify a person as a recognised person for the purposes of this Part.2A person may be specified only if the person—aperforms a relevant function in relation to a wholesale cash distribution activity, andbis recognised as having market significance (see section 206H).3The following are relevant functions in relation to a wholesale cash distribution activity—aundertaking the activity;bmanaging the activity;cproviding a service in relation to the activity;dproviding financial assistance in relation to the activity.4A wholesale cash oversight order must specify in as much detail as is reasonably practicable—aeach wholesale cash distribution activity in relation to which the specified person performs a relevant function, andbeach relevant function the person performs.5The Treasury may not make a wholesale cash oversight order in respect of an issuing authority or the Mint.Pt. 5A inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 1