§ 53 — Cessation and revocation of access regime

53.—(1) An access regime in respect of a relevant payment system ceases to be in force if —(a)

the order imposing or varying the access regime under section 51(1) or 52(1) (as the case may be) provides for an expiry date, and that date is reached;

(b)

the Authority revokes the access regime under subsection (2); or

(c)

the payment system concerned ceases to exist or operate, or ceases to be a relevant payment system.

(2) The Authority may, by order in the Gazette, revoke an access regime if the Authority considers it appropriate to do so.

(3) In considering whether to revoke under subsection (2) an access regime in respect of a relevant payment system, the Authority must have regard to the following matters:(a)

whether the revocation of that access regime would be in the interests of the public;

(b)

the interests of the current participants, operator and settlement institution of that payment system;

(c)

the interests of persons who, in the future, may require or desire access to that payment system;

(d)

such other matters as the Authority may consider to be relevant.

—(1) An access regime in respect of a relevant payment system ceases to be in force if —(a)

the order imposing or varying the access regime under section 51(1) or 52(1) (as the case may be) provides for an expiry date, and that date is reached;

(b)

the Authority revokes the access regime under subsection (2); or

(c)

the payment system concerned ceases to exist or operate, or ceases to be a relevant payment system.

(2) The Authority may, by order in the Gazette, revoke an access regime if the Authority considers it appropriate to do so.

(3) In considering whether to revoke under subsection (2) an access regime in respect of a relevant payment system, the Authority must have regard to the following matters:(a)

whether the revocation of that access regime would be in the interests of the public;

(b)

the interests of the current participants, operator and settlement institution of that payment system;

(c)

the interests of persons who, in the future, may require or desire access to that payment system;

(d)

such other matters as the Authority may consider to be relevant.