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The Payment Accounts Regulations 2015

The Payment Accounts Regulations 2015 Sch 4 para 3

Sch 4 para 3 Issuing the designation certificate

(1) Where— (a) an application has been made under paragraph 2; (b) the applicant has paid any fee charged by virtue of paragraph 4(1); and (c) the Regulator is satisfied that the requirements of regulation 15(2) are met with respect to the switching service to which the application relates; the Regulator may issue a designation certificate declaring the switching service to be an alternative arrangement (and identifying the operator of that switching service). (2) A designation certificate must state the date on which it comes into effect. (3) Where the Regulator refuses an application for a designation certificate, it must give the applicant a written notice to that effect stating the reasons for the refusal and the right of appeal provided for in paragraph 12.

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