(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.
Textual Amendments
F1Word in s. 46(2)(a) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 37
Commencement Information
I1S. 46 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1