PART 5Regulation of payment systems
Designation as a regulated payment system
46Amendment of designation order
(1)
The Treasury may amend a designation order.
(2)
Before amending a designation order made in respect of a payment system, the Treasury must—
(a)
consult the Payment Systems Regulator and, if the payment system is a recognised F1... payment system, the Bank of England,
(b)
notify the operator of the payment system, and
(c)
consider any representations made.
(3)
The Treasury must consider any request by the operator of a regulated payment system for the amendment of its designation order.