UK Statutory Instrument SI 2015 United Kingdom

The Payment Card Interchange Fee Regulations 2015

Read it on legislation.gov.uk (opens in a new tab)
Enforced by
PSR
Status
Amended (in force with amendments)
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Plus 6 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

Introductory provisions

0 of 2 sections shown
2 other sections in this Part — procedural and definitional
s.001 Citation and commencement
s.002 Interpretation
Part 2

The Payment Systems Regulator

4 of 16 sections shown
s.003 Functions Regulated
Other duties (1) — Crown / regulator
  • PSR must maintain monitoring and enforcement arrangements for card interchange feesStatutory regulator
s.006 Penalties Regulated
Other duties (1) — Crown / regulator
  • Payment Systems Regulator must publish penalty decision principlesStatutory regulator
s.007 Warning notices Regulated
Other duties (1) — Crown / regulator
  • PSR must give warning notice before publishing failures or fining regulated personsStatutory regulator
s.012 Payees' complaints and dispute resolution Regulated
Other duties (1) — Crown / regulator
  • PSR must consider enforcement powers when payee complaint is justifiedStatutory regulator
12 other sections in this Part — procedural and definitional
s.004 Directions
s.004 Directions: payment card schemes
s.004 Directions: co-operation between regulators
s.004 Power of FCA to require Regulator to refrain from specified action
s.005 Publication of compliance failures etc
s.008 Injunctions
s.009 Appeals: general
s.010 Appeals against directions and publication of compliance failures
s.011 Appeals in relation to penalties
s.013 Guidance
s.014 Information and investigation
s.015 Application of other provisions of the 2013 Act
Part 3

The Financial Conduct Authority

0 of 2 sections shown
2 other sections in this Part — procedural and definitional
s.016 Designation as a competent authority
s.017 Amendment of the Payment Services Regulations 2009
Part 4

General enforcers under Part 8 of the Enterprise Act 2002

0 of 1 section shown
1 other section in this Part — procedural and definitional
s.018 Amendment of the Enterprise Act 2002
Part 5

Co-operation between regulators

1 of 3 sections shown
s.020 Co-operation between the Payment Systems Regulator and enforcers Regulated
Other duties (1) — Crown / regulator
  • Regulators must cooperate when enforcing interchange fee rulesStatutory regulator
2 other sections in this Part — procedural and definitional
s.019 Amendment of the 2013 Act
s.021 Co-operation with competent authorities in other Member States
Part 6

Transitional relief from requirements of the interchange fee regulation

0 of 2 sections shown
2 other sections in this Part — procedural and definitional
s.022 Exemption from maximum interchange fees for certain three party payment card schemes
s.023 Weighted average interchange fees for UK debit card transactions
Part 7

Review

1 of 1 section shown
s.024 Review Regulated
Other duties (1) — Crown / regulator
  • Treasury must periodically review and publish report on these RegulationsCrown / Minister / Government department

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.