Schedule 9: Wholesale cash distribution Part 1 – New Part 5A of the Banking Act 2009 Recognised persons Section 206G: Wholesale cash oversight orders
This section sets out how and when HM Treasury may specify a person as a recognised person and the information that must be recorded in a wholesale cash oversight order. HM Treasury may, by a wholesale cash oversight order, specify a person as a recognised person for the purposes of this Part (see subsection (1)) if the person performs a relevant function in relation to a wholesale cash distribution activity and is recognised as having market significance in accordance with section 206H (see subsection (2)). A "relevant function" is defined in subsection (3).
	Subsection (4) provides that a wholesale cash oversight order must specify in as much detail as is reasonably practicable each wholesale cash distribution activity in relation to which the specified person performs a relevant function and each relevant function the person performs.
	Subsection (5) provides that HM Treasury is not permitted to make a wholesale cash oversight order in respect of an issuing authority or the Mint. Authorised banks that are issuing authorities may be subject to an order in respect of their activities that are not in their capacity as an issuing authority.