Regulation 9 The Payment Services Regulations 2017

(1)

The Payment Services Regulations 2017^f1 are amended as follows.

(2)

In regulation 147—

(a)

in paragraph (1), in the opening words, for “must” substitute “may”; and

(b)

omit paragraph (4).

(3)

In Schedule 6—

(a)

in paragraph 8(1)(b) for “subsections 3A and 3B were” substitute “subsection (3A) was”;

(b)

in paragraph 13—

(i)

in sub-paragraph (a)—

(aa)

omit paragraphs (i) and (ii);

(bb)

in paragraph (iii), in the opening words for “after the definition of “overseas regulatory authority”” substitute “before the definition of “prescribed disciplinary proceedings””;

(cc)

in paragraph (iii) omit the definition of “payment services directive information”;

(dd)

for paragraph (iv) substitute—

“(iv)
in the definition of “relevant provisions", after paragraph (j) there were inserted—

“(k)
Article 24 of the payment services directive;”;

(v)
in the definition of “relevant directives”, after paragraph (e) there were inserted—

“(ea)
the payment services directive;””;

(ii)

omit sub-paragraph (d);

(iii)

in sub-paragraph (e)(ii), in the inserted paragraph (1B), omit “directive”;

(iv)

omit sub-paragraph (f);

(v)

in sub-paragraph (g)—

(aa)

in the opening words, for “single market restrictions” substitute “retained EU law restrictions”;

(bb)

in sub-paragraph (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. 2017/752.