UK Statutory Instrument
2018
United Kingdom
The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018
At a glance
Enforced by
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
Browse 128 other Schedules — structural / supplementary
(1) The Financial Services (Banking Reform) Act 2013 is amended...
The Electronic Money Regulations 2011 are amended as follows.
Omit regulation 28 (notice of intention), regulation 29 (decision following...
(1) Regulation 32 (additional activities) is amended as follows.
In regulation 33 (use of distributors and agents), omit paragraph...
(1) Regulation 34 (requirement for agents to be registered) is...
In regulation 37 (duty to notify change in circumstance), in...
Omit regulation 59A (credit agreements).
In regulation 63 (prohibition on issuing electronic money by persons...
(1) Regulation 71 (duty to co-operate and exchange information) is...
Omit regulations 74 to 78A (transitional provisions).
In Schedule 1 (information to be included in or with...
(1) Regulation 2 (interpretation) is amended as follows.
Omit Schedule 2A (credit agreements).
(1) Schedule 3 (application and modification of legislation) is amended...
(1) Schedule 5 (Gibraltar) is amended as follows.
The Payment Services Regulations 2017 are amended as follows.
In regulation 1 (citation, commencement and extent), in paragraph (5),...
(1) Regulation 2 (interpretation) is amended as follows.
(1) Regulation 4 (register of certain payment service providers) is...
In regulation 6 (conditions for authorisation as a payment institution),...
In regulation 22 (capital requirements), in paragraph (2)(b)(i), for “pursuant...
(1) Regulation 23 (safeguarding requirements) is amended as follows.
In regulation 3 (electronic money: exclusions), in paragraph (a)(iv), for...
(1) Regulation 24 (accounting and statutory audit) is amended as...
Omit regulations 26 to 30 (which relate to the exercise...
(1) Regulation 32 (additional activities) is amended as follows.
(1) Regulation 34 (use of agents) is amended as follows....
In regulation 37 (duty to notify change in circumstance), omit...
(1) Regulation 40 (application of Part 6) is amended as...
In regulation 60 (information requirements for account information service providers),...
(1) Regulation 62 (provision of information leaflet) is amended as...
(1) Regulation 63 (application of Part 7) is amended as...
(1) Regulation 66 (charges) is amended as follows.
(1) Regulation 4 (the register of certain electronic money issuers)...
In regulation 68 (confirmation of availability of funds for card-based...
In regulation 69 (access to payment accounts for payment initiation...
In regulation 70 (access to payment accounts for account information...
(1) Regulation 85 (application of regulations 86 to 88) is...
In regulation 86 (payment transactions to a payment account), in...
In regulation 89 (value date and availability of funds), in...
In regulation 96 (force majeure), in paragraph (2), omit “EU...
(1) Regulation 99 (incident reporting) is amended as follows.
In regulation 100 (authentication), in paragraph (5), for “regulatory technical...
In regulation 101 (dispute resolution), omit paragraph (3).
(1) Regulation 6 (conditions for authorisation) is amended as follows....
(1) Regulation 106 (functions of the FCA) is amended as...
After regulation 106 insert— Technical standards (1) The FCA may make technical standards specifying—
(1) Regulation 107 (application of Part 9 to requirements of...
In regulation 109 (reporting requirements), omit paragraph (6).
Omit regulation 119 (credit agreements).
In regulation 123 (interpretation of Part 10)—
(1) Regulation 124 (functions of the Payment Systems Regulator) is...
In regulation 125 (directions), in paragraph (2), for “directive”, in...
In regulation 133 (complaints), in paragraph (1), for “directive” substitute...
In regulation 134 (guidance), in paragraph (1)(a), for “directive” substitute...
In the heading to Part 3, omit “and Passporting”.
In regulation 135 (information and investigation), in paragraph (1)(e), for...
In regulation 138 (prohibition on provision of payment services by...
(1) Regulation 147 (duty to co-operate and exchange of information)...
After regulation 148 insert— Single Euro Payments Area (1) If the SEPA Regulation is revoked under regulation 15...
(1) Regulation 150 (transitional and saving provisions: authorised payment institutions)...
In regulation 152 (transitional provisions: payments through network operators), omit...
In regulation 153 (transitional and saving provisions: general), omit paragraph...
In regulation 154 (transitional provisions: account information services and payment...
(1) Regulation 158 (review) is amended as follows.
In Schedule 1 (payment services), in paragraph 2(k)(iv), for “a...
(1) Regulation 21 (safeguarding option 1) is amended as follows....
In Schedule 2 (information to be included in or with...
Omit Schedule 5 (credit agreements).
(1) Schedule 6 (application and modification of legislation) is amended...
(1) Schedule 7 (Gibraltar) is amended as follows.
In regulation 22 (safeguarding option 2), in paragraph (3), in...
(1) Regulation 25 (accounting and statutory audit) is amended as...
Interpretation
Transition period
Power to extend period specified in paragraph 10(3)
Directions
Interpretation
Continued authorisation for limited purposes
Duty to notify FCA
Agents
Permitted services
Notification that authorisation no longer required
Extension period
Supervision and enforcement of persons to whom paragraph 12B applies
Supervision and enforcement of persons to whom paragraph 12L (exemption from prohibition) applies
Variation and cancellation of authorisation
Variation and cancellation: procedure
Power to charge fees
Exemption from prohibition
Duration of extension period
Interpretation
Transitional authorisation for EEA authorised payment institution etc
Requirements to be met by notification
Registration of agents
Requirements imposed by FCA
Duties of person relying on transitional authorisation
Exclusion of certain provisions of Payment Services Regulations 2017
Transitional authorisation for EEA authorised electronic money institutions
Power of FCA to cancel transitional authorisation
Notice of intention
Transition period
Power to extend period specified in paragraph 22(4)
Directions
Interpretation
Continued authorisation for limited purposes
Duty to notify FCA
Agents
Permitted services
Requirements to be met by notification
Notification that authorisation no longer required
Extension period
Supervision and enforcement of persons to whom paragraph 26 applies
Supervision and enforcement of persons to whom paragraph 36 applies
Variation and cancellation of authorisation
Variation and cancellation: procedure
Power to charge fees
Exemption from prohibition
Duration of extension period
(1) The reference in regulation 61 of the Electronic Money...
Registration of agents
Requirements imposed by FCA
Duties of person relying on transitional authorisation
Exclusion of certain provisions of Electronic Money Regulations 2011
Power of FCA to cancel transitional authorisation
Notice of intention
Browse 4 other sections — procedural / definitional / commencement
Citation and commencement
Amendments of primary legislation
Amendments of subordinate legislation and related transitional provisions
Saving provision relating to tax
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
Financial Conduct Authority
Regulation of financial services firms and markets. Supervises banks, insurers, investment firms, payment services, and cryptoasset businesses. Issues authorisations and enforces conduct …
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