Financial Services (Banking Reform) Bill

Amendment
to be moved
on report

Clause 46

BARONESS NOAKES

 

Page 49, line 2, at end insert—

“(3A)    Before an order is made under subsection (3) the Payment Systems
Regulator must consider any representations made by the payment service
provider about the risks to which the payment service provider may be
exposed as a result of the order.

(3B)   The Payment Systems Regulator may revoke an order made under
subsection (3) if it is satisfied that compliance with the order would expose
the payment service provider to risks which it is not reasonable for the
payment service provider to bear.”

Prepared 21st November 2013