# The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, Paragraph 12C: Duty to notify FCA


(1) A person to whom paragraph 12B or 12L applies must notify the FCA of that fact as soon as reasonably practicable, and in any event not later than one month after the person first becomes aware of an obligation to perform a pre-existing contract.
(2) In this Part a “pre-existing contract”, in relation to a person to whom paragraph 12B applies, means a contract—
(a) which was entered into before the extension period defined in paragraph 12G through branch or agent in the United Kingdom, and
(b) under which the person is obliged to issue electronic money or to provide payment services.
(3) Notification under sub-paragraph (1) must be made in such manner, and be accompanied by such information, as the FCA may direct.
(4) The FCA is not obliged to include a person to whom paragraph 12B applies on the register maintained under regulation 4 of EMR 2011 until the person notifies the FCA under sub-paragraph (1).
(5) During the extension period defined in paragraph 12G, a person to whom paragraph 12B applies must notify the FCA of any of the matters mentioned in paragraph 6(2)(b) to (d).

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Source: https://www.legislation.gov.uk/uksi/2018/1201/schedule/3/paragraph/12C (the official version)
Page: https://openlegislation.uk/electronic-money-payment-services-and-payment-systems-amendment-and-transitional-provisions-eu-exit-regulations-2018/schedule-3/paragraph-12C
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.