PART 5Regulation of payment systems
Regulatory and competition functions
I155System 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”.