182 Interpretation: [key terms]
Banking Act 2009 (2009 c 1) | Legislation

182  Interpretation: [key terms]

(1)     In this Part “. . . payment system” means arrangements[, or proposed arrangements,] designed to facilitate or control the transfer of money [or digital settlement assets] . . ..

[(1A)     But “payment system” does not include any arrangements for the physical movement of cash.]

(2)     . . .

(3)     . . .

(4)     In subsection (1) “money” includes credit.

[(4A)     In subsection (1) “digital settlement asset” means a digital representation of value or rights, whether or not cryptographically secured, that—

(a)     can be used for the settlement of payment obligations,

(b)     can be transferred, stored or traded electronically, and

(c)     uses technology supporting the recording or storage of data

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