# The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, Paragraph 12F: Notification that authorisation no longer required

Extent: E+W+S+N.I.

(1) A person to whom paragraph 12B applies and who has notified the FCA under paragraph 12C(1) must notify the FCA once it no longer has obligations under pre-existing contracts and has redeemed electronic money issued through a branch in the United Kingdom.
(2) On receiving a notification under sub-paragraph (1), the FCA must, if satisfied that the person giving the notification no longer has obligations under pre-existing contracts and has redeemed electronic money issued through a branch in the United Kingdom—
(a) notify the person of the date on which the person will cease to be an authorised electronic money institution by virtue of this Part of this Schedule, and
(b) remove the person from the register from that date.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

---
Source: https://www.legislation.gov.uk/uksi/2018/1201/schedule/3/paragraph/12F (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-12F
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.