Schedule 7: Accountability of the Payment Systems Regulator Paragraph 12: Engagement with Parliamentary Committees for the PSR
Paragraph 12 amends Schedule 4 to FSBRA 2013, inserting new paragraph 14A into the Schedule to establish the requirement for the PSR to notify the Treasury Select Committee when it publishes a consultation.
	Paragraph 13 also inserts new paragraph 14B into Schedule 4 to FSBRA 2013, which sets out the requirement that the PSR must reply to the chair of any Parliamentary Committee that has responded to a consultation published by the PSR. The qualification in new paragraph 14B(5) that the PSR does not need to supply any information that they consider is against the public interest operates only as a qualification of the new statutory duty itself. It does not purport to speak for any wider purpose (and therefore does not purport to limit the inherent jurisdiction of Parliament to require the production of papers or to summon witnesses).