Paragraph 63 I1

After regulation 148 insert—

“Single Euro Payments Area

148A

(1)

If the SEPA Regulation is revoked under regulation 15 of the Credit Transfers and Direct Debits in Euro (Amendment) (EU Exit) Regulations 2018 M1, the Treasury may by regulations make such amendments of regulations 40, 63, 66 and 85 of these Regulations as appear to them to be appropriate in connection with the revocation.

(2)

Regulations under this regulation may contain transitional and consequential provisions and savings.

(3)

A statutory instrument containing regulations under paragraph (1) is subject to annulment in pursuance of a resolution of either House of Parliament.”