Specific Direction 2 requires the operator of Bacs to ensure that any central infrastructure contract in place after 2 December 2020 has been competitively procured.

The operator of Bacs applied to the PSR under section 4 of Specific Direction 2 to extend the date for compliance to enable transitional arrangements in relation to the New Payments Architecture (NPA).

Having considered the application, in light of all relevant facts, we decided to grant the requested extension of three years. The new compliance date is therefore 2 December 2023.