AI Summary of 9. Monitoring and enforcement
The Bank is mandated to monitor compliance with access to cash criteria by tracking the location, number, and hours of ATMs and cash service points within each NUTS 3 region. This information shall be published on the Bank's website quarterly and for the preceding quarter upon enactment.
The Bank may determine non-compliance with access to cash criteria in any NUTS 3 region and notify designated entities accordingly. If suitable proposals to address non-compliance are not submitted within 28 days, or the proposals are deemed insufficient, the Bank may issue a draft direction. The draft shall specify required actions and timelines. Designated entities have 14 days to respond to this draft prior to the Bank finalising any direction, which remains enforceable irrespective of the designated entity's status.
9. Monitoring and enforcement
(a) The Bank shall, for the purposes of monitoring compliance with the access to cash criteria -
(i) monitor the location, number and hours of availability of ATMs and cash service points in each NUTS 3 region, and
(ii) publish the information referred to in subparagraph (i) on a website maintained by it or on its behalf as soon as practicable after the end of each quarter.
(b) In the case of the information first published under paragraph (a) after the commencement of this section, the Bank shall publish the information as soon as practicable after such commencement in respect of the immediately preceding quarter.
(2) The Bank may make a determination, in respect of any NUTS 3 region, having regard to the access to cash criteria and any information provided to it under this Act -
(a) that the level of provision of cash infrastructure does not comply with any of the access to cash criteria, or
(b) that non-compliance with any of the access to cash criteria is reasonably likely.