Part 5U.K.F1... Payment Systems [F2and service providers]

Recognised systems [F3and service providers] U.K.

[F4186AAmendment of recognition orderU.K.

(1)The Treasury may amend a recognition order.

(2)Before amending a recognition order the Treasury must—

(a)consult the Bank of England [F5and the Payment Systems Regulator],

[F6(aa)in the case of a recognition order in respect of a DSA service provider, consult the FCA,]

(b)notify the operator of the recognised F7... payment system [F8or the recognised DSA service provider (as appropriate)], and

(c)consider any representations made.

[F9(See section 206A(4) for the procedure to be followed before amending a recognition order so as to specify a person under section 206A(2)(b) (service providers in relation to recognised payment systems) in the order.)]

[F10(2A)Before amending a recognition order so as to revoke or amend the specification of a person under section 206A(2)(b), the Treasury must also—

(a)consult the FCA and the PRA,

(b)notify the specified person, and

(c)consider any representations made.]

(3)In addition, the Treasury—

(a)must consult the FCA before amending a recognition order in respect of a payment system [F11or a DSA service provider, where the operator of the system or the provider]—

(i)is, or has applied to become, a recognised investment exchange, or

(ii)has, or has applied for, a Part 4A permission, and

(b)if the operator [F12or provider] has, or has applied for, a Part 4A permission for the carrying on of a PRA-regulated activity, must also consult the PRA.

(4)The Treasury must consider any request by the operator of a recognised F13... payment system [F14or by a recognised DSA service provider] for the amendment of its recognition order [F15or any request by a service provider in relation to such a system [F16or provider,] for the amendment or revocation of its specification].]