Guidance

Bank of Scotland PLC Oversight Order

Published 16 June 2025

漏 Crown copyright 2025

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Wholesale Cash Oversight Order

皇冠体育app Treasury:

  • having consulted the Bank of England, notified the person referred to in point 1, consulted the FCA, the PRA and the Payment Systems Regulator, and considered any representations made, in accordance with section 206I of the Banking Act 2009 (鈥渢he Act鈥�); and
  • being satisfied that the criteria specified in section 206G(2) of the Act are met in respect of the person referred to in point 1,

make this wholesale cash oversight order in exercise of the power conferred by section 206G(1) of the Act.

1. Person specified as a recognised person for the purposes of Part 5A of the Act:

Bank of Scotland PLC, company registered number SC327000 (鈥渢he Recognised Person鈥�).

2. Specification as required by section 206H(1) of the Act:

皇冠体育app Recognised Person is recognised as having market significance only.

3. Specification of the relevant function and wholesale cash distribution activities performed by the Recognised Person as required by section 206G(4) of the Act:

皇冠体育app Recognised Person performs the relevant function referred to in point 4 in relation to each of the wholesale cash distribution activities referred to in point 5.

4. Specification of the relevant function performed by the Recognised Person:

皇冠体育app relevant function referred to in point 3 is providing a service in relation to the activity.

5. Specification of the wholesale cash distribution activities performed by the Recognised Person:

皇冠体育app wholesale cash distribution activities referred to in point 3 are:

  • purchasing cash from the issuing authorities or the Mint;
  • storing cash;
  • transporting cash;
  • undertaking authentication processes;
  • facilitating the return of cash to the issuing authorities or the Mint;
  • dispensing cash to wholesale customers;
  • receiving cash deposits from wholesale customers, including counting and reconciling deposits;
  • sorting cash for fitness, including identifying and separating damaged cash from cash that is of sufficient quality to re-enter circulation.

Signed:

Nicholas Dakin

Taiwo Owatemi

Two of the Lords Commissioners of His Majesty鈥檚 Treasury

Date of signature:5 June 2025

Date of coming into force: 12 June 2025

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