Regulation 7 The Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012

(1)

The Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012^f1 are amended as follows.

(2)

In the Schedule, in paragraph 9—

(a)

in paragraph (a)—

(i)

in the opening words, for ““overseas regulatory authority”” substitute ““third country regulatory authority””;

(ii)

in the opening words that are inserted by paragraph (9)(a), for “or any function” substitute “or an authority in a country or territory outside the United Kingdom which exercises any function of a kind corresponding to a function”;

(b)

in paragraph (d), in the inserted sub-paragraph (c), in the opening words, for “as the competent authority under” substitute “corresponding to”;

(c)

in paragraph (e), in the inserted paragraph (4A), in the opening words, for “as the competent authority under” substitute “corresponding to”;

(d)

in paragraph (f), in the inserted sub-paragraph (f), in the opening words, for “as the competent authority under” substitute “corresponding to”;

(e)

in paragraph (g)(ii), for ““The Department of Enterprise, Trade and Investment in Northern Ireland”” substitute ““The Department for the Economy in Northern Ireland””.

Annotations

Footnotes

f1: S.I. 2012/3122.