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Change 1
As published
206A Service providers
(1) The Treasury may by order make provision applying any provision of this Part to ... service providers—
(a) in relation to a recognised ... payment system , or
(b) in relation to a recognised DSA service provider.
(2) A person is a service provider in relation to a recognised ... payment system if—
(a) the person provides services that form part of the arrangements constituting the system, and
(b) the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the system.
(2A) A person is a service provider in relation to a recognised DSA service provider if—
(a) the person provides services to the recognised DSA service provider, and
(b) the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the DSA service provider.
(2B) A payment system that includes arrangements using digital settlement assets is a service provider in relation to a recognised DSA service provider if—
(a) the system provides services to the recognised DSA service provider, and
(b) the system is specified as a system within paragraph (a) by the Treasury in the recognition order made in respect of the DSA service provider.
(3) Telecommunication or information technology services are examples of the kind of services that may fall within subsection (2)(a).
(3A) In relation to a recognised payment system that includes arrangements using digital settlement assets, subsection (2)(a) includes a person providing services connected with the system. See section 206AA.
(4) Before specifying persons under subsection (2)(b) or (2A)(b) or systems under subsection (2B)(b), the Treasury must—
(a) consult the Bank of England , the Payment Systems Regulator , the FCA and the PRA,
(b) notify the operator of the system or DSA service provider and the persons whom the Treasury proposes to specify, and
(c) consider any representations made.
(5) The Treasury may not specify the Bank of England under subsection (2)(b) , (2A)(b) or (2B)(b).
(6) Before making an order under subsection (1), the Treasury must consult—
(a) the Bank of England,
(b) the FCA,
(ba) the PRA, and
(c) such other persons as the Treasury consider appropriate.
(7) An order under subsection (1)—
(a) may modify any provision of this Part in its application to persons who are service providers in relation to a recognised ... payment system;
(b) may (but need not) take the form of textual amendment.
(8) An order under subsection (1)—
(a) is to be made by statutory instrument, and
(b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.
Your change, as a redline
206A Service providers
(1) The Treasury may by order make provision applying any provision of this Part to ... service providers—
(a) in relation to a recognised ... payment system , or
(b) in relation to a recognised DSA service provider.
(2) A person is a service provider in relation to a recognised ... payment system if—
(a) the person provides services that form part of the arrangements constituting the system, and
(b) the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the system.
(2A) A person is a service provider in relation to a recognised DSA service provider if—
(a) the person provides services to the recognised DSA service provider, and
(b) the person is specified as a person within paragraph (a) by the Treasury in the recognition order made in respect of the DSA service provider.
(2B) A payment system that includes arrangements using digital settlement assets is a service provider in relation to a recognised DSA service provider if—
(a) the system provides services to the recognised DSA service provider, and
(b) the system is specified as a system within paragraph (a) by the Treasury in the recognition order made in respect of the DSA service provider.
(3) Telecommunication or information technology services are examples of the kind of services that may fall within subsection (2)(a).
(3A) In relation to a recognised payment system that includes arrangements using digital settlement assets, subsection (2)(a) includes a person providing services connected with the system. See section 206AA.
(4) Before specifying persons under subsection (2)(b) or (2A)(b) or systems under subsection (2B)(b), the Treasury must—
(a) consult the Bank of England , the Payment Systems Regulator , the FCA and the PRA,
(b) notify the operator of the system or DSA service provider and the persons whom the Treasury proposes to specify, and
(c) consider any representations made.
(5) The Treasury may not specify the Bank of England under subsection (2)(b) , (2A)(b) or (2B)(b).
(6) Before making an order under subsection (1), the Treasury must consult—
(a) the Bank of England,
(b) the FCA,
(ba) the PRA, and
(c) such other persons as the Treasury consider appropriate.
(7) An order under subsection (1)—
(a) may modify any provision of this Part in its application to persons who are service providers in relation to a recognised ... payment system;
(b) may (but need not) take the form of textual amendment.
(8) An order under subsection (1)—
(a) is to be made by statutory instrument, and
(b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.
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