PART 5Regulation of payment systems
Regulatory and competition functions
55System rules
(1)
The Payment Systems Regulator may require the operator of a regulated payment system—
(a)
to establish rules for the operation of the system;
(b)
to change the rules in a specified way or so as to achieve a specified purpose;
(c)
to notify the Payment Systems Regulator of any proposed change to the rules;
(d)
not to change the rules without the approval of the Payment Systems Regulator.
(2)
A requirement under subsection (1)(c) or (d) may be general or specific.
(3)
A requirement under this section that is imposed on—
(a)
all operators of regulated payment systems, or
(b)
every operator of a regulated payment system of a specified description,
is referred to in this Part as a “generally-imposed requirement”.