Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Requirements definition

What does Requirements mean? In Development Consent Order (DCO) practice, Requirements are the binding conditions that regulate how, when and on what detailed terms the authorised development may proceed. They typically oblige the undertaker to submit and secure approval of detailed design, construction, and environmental management documents (for example, CEMP, traffic, landscape, contamination and archaeology plans) before commencement, phased works or operation. The term is used in legislation: section 120 of the Planning Act 2008 permits a DCO to impose “requirements”. In most DCOs they are set out in a schedule (often Schedule 2) and function similarly to planning conditions under the Town and Country...

UK Payment Accounts Regulations 2015: implementation, Brexit onshoring, Edinburgh Reforms, removal of PAD information templates, and 2025–26 changes to basic bank accounts and contract termination, with PSR/FCA developments

Published by a LexisNexis Financial Services expert

Practice notes

STOP PRESS :

In March 2025, the government set out plans to fold the Payment Systems Regulator, and most of its remit, into the Financial Conduct Authority. The aim is to simplify oversight, cut duplication, and help firms concentrate on innovation and delivering services. Timing remains uncertain, though HM Treasury indicated in a letter that it would consult on the proposal’s detail during summer 2025. HM Treasury launched a public consultation on 8 September 2025, closing on 20 October 2025, outlining options for a leaner payments regulatory framework. Under the proposals, the FCA would assume the PSR’s roles, including advancing competition and innovation across payment systems and the services they provide, while championing the interests of consumers and businesses making everyday payments. Legislation will follow when Parliamentary time permits. Meanwhile, the PSR and FCA intend to work in close partnership. The overall objective is to reduce overlap so enterprises can focus on innovation and service delivery across payments. Further detail will be developed through consultation outputs.

scope of this Practice Note

The Payment Accounts Directive (Directive 2014/92/EU) (PAD) establishes common regulatory benchmarks that member states must satisfy in order to:

improve the transparency and comparability of fees related

...

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Web page updated on 22/05/2026

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