Regulation 3 Amendments of Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012

(1)

The Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012^f1 are amended as follows.

(2)

In regulation 2 (interpretation), in paragraph (1)—

(a)

omit the definition of “the 2009 European Regulation”;

(b)

in the definition of “the 2012 European Regulation”, for “2012 European” substitute “2012”;

(c)

omit the definition of “the European Regulations”.

(3)

In regulation 4 (monitoring and enforcement), in paragraph (1), for “European Regulations” substitute “2012 Regulation”.

(4)

In regulation 5 (public censure), for “European Regulations” substitute “2012 Regulation”.

(5)

In regulation 6 (financial penalties), in paragraph (1), for “European Regulations” substitute “2012 Regulation”.

(6)

In regulation 8 (injunctions), for “European Regulations”, in each place it occurs, substitute “2012 Regulation”.

(7)

In regulation 9 (power of Authority to require restitution), in paragraph (1), for “European Regulations” substitute “2012 Regulation”.

(8)

In regulation 13 (compliance by operators of payment systems), omit “European”.

(9)

In regulation 15 (guidance), omit paragraph (1)(a).

(10)

Omit regulation 17 (exchange of information).

(11)

In regulation 18 (civil proceedings)—

(a)

omit paragraph (1);

(b)

in paragraph (2), omit “European”.

(12)

Omit regulation 19 (derogations under the 2012 European Regulation).

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