# The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, Paragraph 19: Exclusion of certain provisions of Payment Services Regulations 2017


(1) The following provisions of PSR 2017 do not apply in relation to a person while the person is by virtue of paragraph 14 an authorised payment institution or a registered account information service provider—
(a) regulation 10(1) (cancellation of authorisation);
(b) regulation 20 (duty to notify changes);
(c) regulation 22 and Schedule 3 (capital requirements);
(d) in regulation 23 (safeguarding requirements), paragraphs (14) to (16);
(e) regulation 24 (accounting and statutory audit);
(f) in Schedule 6 (application and modification of legislation), paragraph 5 (control over payment institutions) and paragraph 6 (incoming firms: intervention by FCA).
(2) Regulation 6 (conditions for authorisation) does not apply in relation to a person by virtue of the person’s transitional authorisation, but applies in relation to any application for authorisation made by the person during the transition period defined in paragraph 22.

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111173008/schedule/3/paragraph/19 (the official version)
Page: https://openlegislation.uk/draft-electronic-money-payment-services-and-payment-systems-amendment-and-transitional-provisions-eu-exit-regulations-2018/schedule-3/paragraph-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.