The Treasury may designate a person for the purposes of this Part if the person is—
a relevant current account provider, or
an operator of cash access coordination arrangements, and at least one of the participants in the arrangements is a relevant current account provider designated under this section.
A person is designated by giving the person (the "designated person") a notice in accordance with this Part (a "designation notice").
A designation notice must specify whether the person is designated in relation to—
the United Kingdom,
Great Britain only, or
Northern Ireland only.
A designation notice given to the operator of cash access coordination arrangements must specify the arrangements in as much detail as is reasonably practicable.
Before giving a designation notice to a person the Treasury must—
consult the FCA,
notify the person, and
consider any representations made.
A designated person must—
comply with rules made by the FCA under section 131V;
comply with directions given by the FCA to the designated person under section 131W.