(1)The Payment Systems Regulator may give directions in writing to participants in regulated payment systems.
(2)A direction given to a participant in a regulated payment system may—
(a)require or prohibit the taking of specified action in relation to the system;
(b)set standards to be met in relation to the system.
(3)A direction under this section may apply—
(a)generally,
(b)in relation to—
(i)all operators, or every operator of a regulated payment system of a specified description,
(ii)all infrastructure providers, or every person who is an infrastructure provider in relation to a regulated payment system of a specified description, or
(iii)all payment service providers, or every person who is a payment service provider in relation to a regulated payment system of a specified description, or
(c)in relation to specified persons or persons of a specified description.
(4)The Payment Systems Regulator must publish any direction given under this section that applies as mentioned in subsection (3)(a) or (b).
(5)A direction under this section that applies as mentioned in subsection (3)(a) or (b) is referred to in this Part as a “general direction”.
Commencement Information
I1S. 54 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1