Introductory text

Draft Regulations laid before Parliament under section 235(2) of the Banking Act 2009 as applied and modified by regulation 24A of, and paragraph 4 of Schedule 2ZA to, the Electronic Money Regulations 2011 and regulation 23A of, and paragraph 4 of Schedule 3A to, the Payment Services Regulations 2017, and paragraph 1(3) of Schedule 7 to the European Union (Withdrawal) Act 2018, for approval by resolution of each House of Parliament.

Financial Services And Markets

Made ***

Coming into force ***

The Treasury make these Regulations in exercise of the powers conferred by—

(a)

sections 233 and 234 of the Banking Act 2009^f1 as applied and modified by regulation 24A of, and paragraphs 2 and 3 of Schedule 2ZA to, the Electronic Money Regulations 2011^f2 (“EMR 2011”) and regulation 23A of, and paragraphs 2 and 3 of Schedule 3A to, the Payment Services Regulations 2017^f3 (“PSR 2017”), and section 259(1) of that Act, and

(b)

in respect of regulation 49 (and regulations 1 to 4 so far as they relate to regulation 49), section 8(1) of, and paragraph 21 of Schedule 7 to, the European Union (Withdrawal) Act 2018^f4.

The Treasury have consulted in accordance with section 235(3) of the Banking Act 2009 as applied and modified by regulation 24A of, and paragraph 4 of Schedule 2ZA to, the EMR 2011 and regulation 23A of, and paragraph 4 of Schedule 3A to, the PSR 2017.

A draft of these Regulations has been laid before and approved by a resolution of each House of Parliament in accordance with section 235(2) of the Banking Act 2009 as applied and modified by regulation 24A of, and paragraph 4 of Schedule 2ZA to, the EMR 2011 and regulation 23A of, and paragraph 4 of Schedule 3A to, the PSR 2017, and paragraph 1(3) of Schedule 7 to the European Union (Withdrawal) Act 2018.

Annotations

Footnotes

f1: 2009 c. 1.
f2: S.I. 2011/99. Regulation 24A and Schedule 2ZA were inserted by S.I. 2020/1275.
f3: S.I. 2017/752. Regulation 23A and Schedule 3A were inserted by S.I. 2020/1275.
f4: 2018 c. 16.