PART 5Regulation of payment systems
Designation as a regulated payment system
I145Procedure
1
Before making a designation order in respect of a payment system the Treasury must—
a
consult the Payment Systems Regulator and, if the system is a recognised F1... payment system, the Bank of England,
b
notify the operator of the system, and
c
consider any representations made.
2
In considering whether to make a designation order in respect of a payment system, the Treasury may rely on information provided by—
a
the Bank of England,
b
the FCA,
c
the PRA, or
d
the Payment Systems Regulator.