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Paragraph 12H Supervision and enforcement of persons to whom paragraph 12B appliesF1F2

(1)

In relation to a person to whom paragraph 12B applies, the provisions of EMR 2011 (other than those disapplied by paragraph 7(1)) apply while the person is an authorised electronic money institution by virtue of paragraph 12B(4).

(2)

Paragraph 7(2) applies in relation to that person as if the reference—

(a)

to a person’s transitional authorisation were a reference to authorisation by virtue of paragraph 12B(4);

(b)

to the transition period were a reference to the extension period in paragraph 12G.

Annotations

Textual amendments

F1

Sch. 3 Pt. 1A inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 10(2)

F2

Sch. 3 paras. 12H, 12HA substituted for Sch. 3 para. 12H (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 7(8)