Paragraph 2 I1

United Kingdom

(1)

Regulation 2 (interpretation) is amended as follows.

(2)

In paragraph (1)—

(a)

omit the definition of “the capital requirements directive”;

(b)

in the definition of “credit institution”—

(i)

for “within the EEA” substitute “ in the United Kingdom ”;

(ii)

for the words from “outside the EEA” to the end substitute “ outside the United Kingdom ”;

(c)

omit the definitions of—

“the EEA”;

“EEA agent”;

“EEA authorised electronic money institution”;

“EEA branch”;

(d)

omit the definition of “the electronic money directive”;

(e)

in the definition of “electronic money issuer”—

(i)

omit paragraph (c);

(ii)

for paragraph (f) substitute—

“(f)
the Bank of England, when not acting in its capacity as a monetary authority or other public authority;”;

(f)

omit the definitions of—

“European Banking Authority”;

“home state competent authority”;

“host state competent authority”;

(g)

omit the definition of “the money laundering directive”;

(h)

omit the definition of “passport right”;

(i)

omit the definition of “the payment services directive”;

(j)

in the definition of “payment transaction”, for “Article 4(5) of the payment services directive” substitute “ regulation 2(1) of the Payment Services Regulations 2017 M1 ”.

(3)

Omit paragraph (3).

Annotations

Marginal citations

M1: S.I. 2017/752.

Commencement

I1: Sch. 2 para. 2 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)