Regulation 5 Terms defined for purposes of Regulation

Article 2 (definitions) is amended as follows.

After point (4) insert—

“(4A)

‘UK debit card transaction’ means a debit card transaction where—

(a)

the issuer and the acquirer are both located in the United Kingdom, and

(b)

the point of sale is in the United Kingdom;”.

After point (5) insert—

“(5A)

‘UK credit card transaction’ means a credit card transaction where—

(a)

the issuer and the acquirer are both located in the United Kingdom, and

(b)

the point of sale is in the United Kingdom;”.

Omit points (8) and (9).

In point (22), for the words from “point 2” to “Council” substitute “regulation 2(1) of the Electronic Money Regulations 2011^f1”.

In point (24), for the words from “means” to “Directive 2009/110/EC” substitute “has the meaning given by regulation 2(1) of the Payment Services Regulations 2017^f2”.

In point (29)(a), for “point 7 of Article 2 of Directive 2011/83/EU,” substitute “regulation 5 of the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013^f3”.

In point (35), for “point 2 of Article 2 of Directive 2009/110/EC” substitute “regulation 2(1) of the Electronic Money Regulations 2011”.

At the end insert—

“(36)

‘the Payment Systems Regulator’ means the body established under section 40(1) of the Financial Services (Banking Reform) Act 2013^f4.”