SCHEDULES

SCHEDULE 9Bank of England oversight of payment systems

PART 2Consequential amendments

Financial Services (Banking Reform) Act 2013

42

In section 113 (interpretation: other expressions), in subsection (1)—

a

in the definition of “operator” omit “inter-bank”;

b

in the definition of “recognised inter-bank payment system”—

i

omit the first “inter-bank”;

ii

for “an inter-bank” substitute “ a ”;

c

in the definition of “the relevant system”, in paragraphs (a) and (c), omit “inter-bank”.