HM Treasury summary of responses to consultation on legislation to support cheque imaging
Written on 10/08/2018
On 30 April 2018, HM Treasury published a document summarising responses, and providing feedback on responses, to its consultation on legislation to support cheque imaging. This is the image clearing system (ICS). The purpose of the Regulations is to ensure that the introduction of the ICS, which will clear all cheques by October 2018, has no detrimental impact on the existing position for cheque users.
HM Treasury has:
- Removed the requirement to provide some additional pieces of information with a copy of a cheque.
- Clarified that the Regulations are not intended to override existing channels for compensation.
Cheque users will be able to obtain guidance on how to receive copies of cheques and compensation from their bank or the Cheque and Credit Clearing Company (C&CCC), the company that processes cheques in Great Britain.
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