# The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, Paragraph 5: Requirements imposed by FCA


(1) This paragraph applies in relation to a person to whom paragraph 2 applies.
(2) Any requirement which—
(a) was imposed on the person—
(i) as a precautionary measure under regulation 30(8) of EMR 2011, or
(ii) under section 196 of the 2000 Act as applied by paragraph 4A of Schedule 3 to EMR 2011, and
(b) has effect immediately before exit day,
is to continue to have effect at and after that time as if it were imposed by the FCA under regulation 7 of EMR 2011.
(3) The FCA may exercise its powers under regulation 7 of EMR 2011 in relation to the person if it appears to the FCA that, immediately before exit day, the condition in section 194(1)(a) or (b) of the 2000 Act, as applied by paragraph 4A of Schedule 3 to EMR 2011, was met.

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111173008/schedule/3/paragraph/5 (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-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.