Paragraph 62

(1)

Regulation 147 (duty to co-operate and exchange of information) is amended as follows.

(2)

In paragraph (1)—

(a)

omit sub-paragraph (a);

(b)

for sub-paragraphs (b) to (d) substitute—

“(b)
the Bank of England; and

(c)
any other public authority exercising functions in the United Kingdom in relation to payment service providers,”;

(c)

in the words following sub-paragraph (d), for “under the payment services directive and other relevant EU or national legislation” substitute “under these Regulations and other relevant legislation”.

(3)

In paragraph (2)—

(a)

in sub-paragraph (a), for “(1)(a), (c) and (d)” substitute “(1)(c)”;

(b)

for sub-paragraph (b) substitute—

“(b)
the Bank of England when acting in its capacity as a monetary and oversight authority;”;

(c)

in the words following sub-paragraph (c), for “the payment services directive and other relevant EU or national legislation” substitute “these Regulations and other relevant legislation”.