SCHEDULE 7 Accountability of the Payment Systems Regulator
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

SCHEDULE 7 Accountability of the Payment Systems Regulator

Section 51

1

The Financial Services (Banking Reform) Act 2013 is amended as follows.

2

In section 39 (overview)—

(a)     after subsection (11) insert—

“(11A)     Sections 102A and 102B contain provision about Treasury powers to make recommendations in connection with the Payment Systems Regulator's general duties and to specify matters to which the Regulator must have regard when exercising certain functions.â€;

(b)     in subsection (12) for “107†substitute “107Aâ€.

3

In section 53 (regulatory principles), in paragraph (c) at the end insert “, including in a way consistent with contributing towards achieving compliance by the Secretary of State with section 1 of the Climate Change Act 2008 (UK net zero emissions target) and section 5 of the Environment Act 2021 (environmental targets) where the Payment Systems Regulator considers the exercise of its functions to be relevant to the making of such a contribution;â€.

4

After section 102 (power of PRA to require Regulator to refrain from specified action), insert—

â€Áè±ð³¦´Ç³¾³¾±ð²Ô»å²¹³Ù¾±´Ç²Ô²õ
102A Recommendations by Treasury in connection with general duties

(1)     The Treasury may at any time by notice in writing to the Payment Systems Regulator make

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