Schedule 8: Cash access services Part 1 – New Part 8B of FSMA 2000 Supervision of designated persons Section 131U: Purpose for which FCA must exercise functions under this Part
This section sets out the purpose for which the FCA must exercise its functions in order to protect access to cash under this Part, and the considerations that the FCA must have regard to in relation to achieving this purpose.
	Subsection (1) provides that the FCA must exercise its functions under this Part for the purpose of seeking to ensure reasonable provision of cash access services in the United Kingdom or a part of the United Kingdom.
	Subsection (1A) clarifies that any references to "cash access service" in section 131U includes references to free cash access services. This ensures that the FCA’s purpose, as set out in section 131U, of seeking to ensure reasonable provision of cash access services includes seeking to ensure reasonable provision of free cash access services for relevant personal current accounts.
	Subsection (2) provides that for the purposes of this Part the FCA may determine what is meant by "reasonable provision" of cash withdrawal and deposit services. Reasonable provision of cash access services will include reasonable provision of free cash access services for relevant personal current accounts. This subsection also requires the FCA to have regard to the HM Treasury cash access policy statement currently in effect and any other matters that the FCA thinks appropriate.
	Subsection (3) and (4) supports the FCA’s ability to use its powers to address issues with access to cash at a local level. It provides that in making a determination of reasonable provision the FCA must have regard to any impacts of local deficiencies in the provision of cash access services that it considers to be significant, to the extent that it is aware of them. Subsection (4) defines a local deficiency as circumstance which, the FCA believes, limits the ability of persons in any local area in the United Kingdom to withdraw or place cash from or on a relevant current account.
	Subsections (5) and (6) provide that in determining whether there are local deficiencies, and their impacts, the FCA must have regard to the cash access policy statement currently in effect and any other such matters it thinks appropriate. Subsection (6) lists what these other matters may include (but are not limited to), such as the number of persons likely to be affected, their characteristics, and the likely impact upon them.