Statutory Instruments
2015 No. 487
Financial Services And Markets
The Payment to Treasury of Penalties (Enforcement Costs of the Payment Systems Regulator) Order 2015
Made
4th March 2015
Laid before Parliament
5th March 2015
Coming into force
1st April 2015
The Treasury make the following Order in exercise of the powers conferred by paragraph 10(4)(b) and (5)(b) of Schedule 4 to the Financial Services (Banking Reform) Act 2013( 1 ).
Citation, commencement and interpretation
1. —(1) This Order may be cited as the Payment to Treasury of Penalties (Enforcement Costs of the Payment Systems Regulator) Order 2015 and comes into force on 1st April 2015.
(2) In this Order—
“the 2013 Act” means the Financial Services (Banking Reform) Act 2013;
“the 2009 Regulations” means the Payment Services Regulations 2009( 2 ).
Enforcement powers
2. The following enactments are specified for the purpose of paragraph 10(4)(b) of Schedule 4 to the 2013 Act (penalty receipts: the Payment Systems Regulator’s enforcement powers)—
(a) sections 31E (enforcement of commitments), 34 (enforcement of directions), 36 (penalties) and 40A (penalties: failure to comply with requirements) of the Competition Act 1998 (as applied by section 61 of the 2013 Act)( 3 );
(b) section 174A of the Enterprise Act 2002(enforcement of powers under section 174: general)( 4 ) (as applied by section 59 of the 2013 Act);
(c) section 80 of the 2013 Act (enforcement of requirement to dispose of interest in payment system);
(d) regulations 104 (enforcement of decisions) and 105 (power to impose financial penalties) of the 2009 Regulations.
Relevant offences
3. The following offences are specified for the purposes of paragraph 10(5)(b) of Schedule 4 to the 2013 Act (penalty receipts: relevant offences)—
(a) an offence under Part 1 of the Competition Act 1998;
(b) an offence under Part 4 of the Enterprise Act 2002;
(c) an offence under regulation 114(5) of the 2009 Regulations, resulting from contravention of regulation 114(1)(b), (3) or (4) of the 2009 Regulations (misleading the Payment Services Regulator).
Mark Lancaster
Harriett Baldwin
Two of the Lords Commissioners of Her Majesty’s Treasury
4th March 2015
S.I. 2009/209 . Regulations 104, 105 and 114 were amended by S.I. 2014/549 and 2015/422 .
1998 c. 41 . Section 31E was inserted by S.I. 2004/1261 and amended by paragraph 15 of Schedule 5 to the Enterprise and Regulatory Reform Act 2013 (c. 24) . Section 34 was amended by paragraph 18 of Schedule 5 to the Enterprise and Regulatory Reform Act 2013. Section 36 was amended by paragraph 38 of Schedule 25 to the Enterprise Act 2002 (c. 40) , section 44 of, and paragraph 20 of Schedule 5 to, the Enterprise and Regulatory Reform Act 2013, and by S.I. 2004/1261 and 2012/1809 . Section 40A was inserted by section 40 of the Enterprise and Regulatory Reform Act 2013.
2002 c. 40 . Section 174A was inserted by paragraph 1 of Schedule 11 to the Enterprise and Regulatory Reform Act 2013.