Regulation 16 Obligations on payment service providersI1

United Kingdom

(1)

In Article 4, in paragraph 5—

(a)

for “Article 13 of Directive (EU) 2015/849” substitute “ regulation 28 of the 2017 Regulations ”;

(b)

for “Article 40 of that Directive” substitute “ regulation 40 of those Regulations ”;

(c)

for “Article 14(5) of Directive (EU) 2015/849” substitute “ regulation 27(8) of the 2017 Regulations ”.

(2)

In Article 5, in paragraph 1, for “Union” substitute “ United Kingdom or Gibraltar ”;

(3)

In Article 6, in paragraphs 1 and 2, for “Union” substitute “ United Kingdom or Gibraltar ”;

(4)

In Article 7—

(a)

in paragraph 2, for “Union”, each time it occurs, substitute “ United Kingdom or Gibraltar ”;

(b)

in paragraph 3, for “Articles 69 and 70 of Directive 2007/64/EC” substitute “ regulations 52 and 53 of the Payment Services Regulations 2017 ”;

(c)

in paragraph 5—

(i)

for “Article 13 of Directive (EU) 2015/849” substitute “ regulation 28 of the 2017 Regulations ”;

(ii)

for “Article 40 of that Directive” substitute “ regulation 40 of those Regulations ”;

(iii)

for “Article 14(5) of Directive (EU) 2015/849” substitute “ regulation 27(8) of the 2017 Regulations ”.

(5)

In Article 8.1, for “Article 13 of Directive (EU) 2015/849” substitute “ regulation 28 of the 2017 Regulations ”.

(6)

In Article 9, for “Directive (EU) 2015/849”, substitute “ the 2017 Regulations ”.

(7)

In Article 11(2), for “Union” each time it occurs, substitute “ United Kingdom or Gibraltar ”.

(8)

In Article 13, for “Directive (EU) 2015/849”, substitute “ the 2017 Regulations ”.

Annotations

I1: Reg. 16 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)