# The Credit Transfers and Direct Debits in Euro (Amendment) (EU Exit) Regulations 2018, Regulation 8: Interoperability


(1) Article 4 (interoperability) is amended as follows.
(2) In paragraph 1—
(a) for “PSPs”, in the first place it occurs, substitute “UK-regulated PSPs”;
(b) for point (a) substitute—
“(a) their rules are the same for UK credit transfer transactions and for cross-border credit transfer transactions within the qualifying area and similarly for UK direct debit transactions and cross-border direct debit transactions within the qualifying area; and”;
(c) in point (b)—
(i) for “Member” substitute “EEA”;
(ii) for “Union” substitute “territory of the EEA states”;
(d) in the second subparagraph, for “Member” substitute “EEA”.
(3) In paragraph 2—
(a) for “Union”, in the first place it occurs, substitute “United Kingdom”;
(b) for “Union”, in the second and third places it occurs, substitute “qualifying area”;
(c) for the sentence beginning “Payment systems designated” substitute “Payment systems designated under the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 shall only be obliged to ensure technical interoperability with other payment systems designated either under those Regulations or under Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems.”.
(4) Omit paragraphs 4 and 5.
(5) At the end insert—
“6. Paragraph 1 is to be read subject to any temporary exemption from the conditions set out in point (b) of the first subparagraph of that paragraph that may be granted under paragraph 4 of this Article as it applies in the European Union.”.

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111172988/regulation/8 (the official version)
Page: https://openlegislation.uk/draft-credit-transfers-and-direct-debits-in-euro-amendment-eu-exit-regulations-2018/regulation-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.