{
  "url": "https://openlegislation.uk/draft-payment-services-and-payment-accounts-contract-termination-amendment-regulations-2025/regulation-2",
  "json_url": "https://openlegislation.uk/draft-payment-services-and-payment-accounts-contract-termination-amendment-regulations-2025/regulation-2.json",
  "legislation": "ukdsi/2025/9780348271485",
  "legislation_title": "The Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025",
  "legislation_url": "https://openlegislation.uk/draft-payment-services-and-payment-accounts-contract-termination-amendment-regulations-2025",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Amendment of the Payment Accounts Regulations 2015",
  "text": "(1) The Payment Accounts Regulations 2015 are amended as follows.\n(2) In regulation 25 (refusal of application), for paragraph (4), substitute—\n“(4) Where a reason is given under paragraph (3), it must be sufficiently detailed and specific to enable the consumer to understand why the application has been refused, unless providing that information would be unlawful.\n(5) Where notification of the refusal is given, the designated credit institution must advise the consumer of—\n(a) how a complaint against the refusal may be made to it; and\n(b) the right to make a complaint to the Financial Ombudsman Service.”.\n(3) In regulation 26 (framework contracts and termination)—\n(a) in paragraph (1), for “paragraphs (2) and (3)”, substitute “paragraphs (2) to (9) below”;\n(b) for paragraph (3)(a), substitute—\n“(a) in accordance with the relevant notice period specified in paragraph (3A);”;\n(c) after paragraph (3), insert—\n“(3A) For the purposes of paragraph (3)(a), the notice period is—\n(a) for a framework contract entered into before 28th April 2026, at least two months before the termination enters into force;\n(b) for a framework contract entered into on or after 28th April 2026, at least 90 days before the termination enters into force.”;\n(d) for paragraph (7), substitute—\n“(7) Any notification given by the designated credit institution under paragraph (3) must advise the consumer of—\n(a) how a complaint against the termination may be made to it; and\n(b) the right to make a complaint to the Financial Ombudsman Service.\n(8) Paragraph (9) applies to a framework contract entered into on or after 28th April 2026.\n(9) Where a notification given by the designated credit institution under paragraph (3) or (6) informs the consumer of the grounds and justification for termination, the notification must include an explanation of the reasons for termination which is sufficiently detailed and specific to enable the consumer to understand why the framework contract is being terminated, unless providing that information would be unlawful.”.\n(4) In paragraph 4(1)(e) of Schedule 3 (switching service), for “regulation 51 (termination of a framework contract)” substitute “regulations 51 to 51D (termination of framework contract and exceptions to termination requirements)”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2015/2038."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Amended by S.I. 2017/692."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Amended by S.I. 2017/931, S.I. 2019/661."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Amended by S.I. 2017/752."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "Amended by S.I. 2017/752, regulations 51 to 51D are substituted by regulation 3(4) of these Regulations."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2025/9780348271485/regulation/2",
    "retrieved_at": "2026-10-30T14:39:14.923020+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}