Digital Economy Bill (HL Bill 102)

Digital Economy BillPage 180

(3) In subsection (5), in the definition of “recognised inter-bank payment
system”—

(a) omit the first “inter-bank”;

(b) for “an inter-bank” substitute “a”.

33 5In section 85 (relevant functions in relation to complaints scheme), in
subsection (3)(a) omit “inter-bank”.

34 In section 110 (payment to Treasury of penalties received by Bank of
England), in subsection (5)(d) omit “inter-bank”.

Financial Services (Banking Reform) Act 2013

35 10The Financial Services (Banking Reform) Act 2013 is amended as follows.

36 In section 45 (procedure), in subsection (1)(a) omit “inter-bank”.

37 In section 46 (amendment of designation order), in subsection (2)(a) omit
“inter-bank”.

38 In section 47 (revocation of designation orders), in subsection (3)(a) omit
15“inter-bank”.

39 In section 98 (duty of regulators to ensure co-ordinated exercise of
functions), in subsection (5)(b) omit “inter-bank”.

40 In section 110 (interpretation), in subsection (1), in the definition of
“recognised inter-bank payment system”—

(a) 20omit the first “inter-bank”;

(b) for “an inter-bank” substitute “a”.

41 In section 112 (interpretation: infrastructure companies), in subsections
(2)(a), (4)(b) and (5), omit “inter-bank”.

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

(a) 25in 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),
30omit “inter-bank”.

43 In section 115 (objective of FMI administration), in subsection (1) omit “inter-
bank”.

44 In section 120 (power to direct FMI administrator), in subsection (8) omit
“inter-bank”.

45 35In section 127 (interpretation of Part 6), in subsection (1), in the definition of
“operator” and in the definition of “recognised inter-bank payment system”,
omit “inter-bank”.