PART 5Regulation of payment systems
Miscellaneous and supplemental
110Interpretation of Part
1
In this Part—
“CAT-appealable decision” has the meaning given by section 76(4);
“CMA-appealable decision” has the meaning given by section 76(7);
“compliance failure” has the meaning given by section 71;
“designation order” has the meaning given by section 43;
“direct access”, in relation to a payment system, is to be read in accordance with section 42(6);
“document” includes information recorded in any form and, in relation to information recorded otherwise than in legible form, references to its production include references to producing a copy of the information in legible form or in a form from which it can readily be produced in visible and legible form;
“general direction” has the meaning given by section 54(5);
“general guidance” has the meaning given by section 96(3);
“generally-imposed requirement” has the meaning given by section 55(3);
“infrastructure provider”, in relation to a payment system, has the meaning given by section 42(4);
“operator”, in relation to a payment system, has the meaning given by section 42(3);
“participant”, in relation to a payment system, has the meaning given by section 42 (and references to participation in a payment system are to be read in accordance with that section);
“payment service provider”, in relation to a payment system, has the meaning given by section 42(5);
“payment system” has the meaning given by section 41;
“recognised inter-bank payment system” means an inter-bank payment system (within the meaning of Part 5 of the Banking Act 2009) specified as a recognised system for the purposes of that Part;
“regulated payment system” means a payment system designated as a regulated payment system by a designation order;
“the UK financial system” has the meaning given by section 1I of FSMA 2000.
2
References in this Part to the Payment Systems Regulator’s payment systems objectives are to be read in accordance with section 49(2).
3
References in this Part to the Bank of England’s capacity as a monetary authority are to be read in accordance with section 244 of the Banking Act 2009.