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Paragraph 32 Supervision and enforcement of persons to whom paragraph 26 appliesF1F2

(1)

In relation to a person to whom paragraph 26 applies, the provisions of the PSR 2017 (other than those disapplied by paragraph 19(1)) apply while the person is an authorised payment institution by virtue of paragraph 26(4)(a)(i) or a registered account information service provider by virtue of paragraph 26(4)(a)(ii).

(2)

Paragraph 19(2) applies to that person as if the reference—

(a)

to a person’s transitional authorisation were a reference to authorisation by virtue of paragraph 26(4)(a);

(b)

to the transition period is a reference to the extension period in paragraph 31.

Annotations

Textual amendments

F1

Sch. 3 Pts. 3, 4 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(3)

F2

Sch. 3 paras. 32, 32A substituted for Sch. 3 para. 32 (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(15)