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The Payment Accounts Regulations 2015

The Payment Accounts Regulations 2015 Sch 4 para 8

Sch 4 para 8 Directions

(1) The Regulator may give directions in writing to the operator for the purpose of ensuring that the switching service continues to meet the requirements of regulation 15(2). (2) A direction may— (a) require or prohibit the taking of specified action by the operator in the operation of the switching service; (b) set standards to be met in the operation of the switching service. (3) A direction must inform the operator of— (a) the date by which its terms must be complied with; and (b) the Regulator’s power to— (i) require the operator to pay a penalty pursuant to paragraph 9(1)(b) in the event of the operator’s failure to comply with the direction; and (ii) apply to the court for an order pursuant to paragraph 11 for the purpose of securing the operator’s compliance with the direction.

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