{
  "url": "https://openlegislation.uk/payment-services-regulations-2017/regulation-3",
  "json_url": "https://openlegislation.uk/payment-services-regulations-2017/regulation-3.json",
  "legislation": "uksi/2017/752",
  "legislation_title": "The Payment Services Regulations 2017",
  "legislation_url": "https://openlegislation.uk/payment-services-regulations-2017",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Exemption for certain bodies",
  "text": "(1) Subject to paragraph (2) and regulation 4(1)(f), these Regulations do not apply to the following persons—\n(a) credit unions;\n(b) municipal banks; and\n(c) the National Savings Bank.\n(2) Where municipal banks provide or propose to provide payment services they must give notice to the FCA.\n(3) In this regulation—\n“credit union” means a credit union within the meaning of—\n(a)the Credit Unions Act 1979 ;\n(b)the Credit Unions (Northern Ireland) Order 1985 ;\n“municipal bank” means a company which, immediately before 1st December 2001, fell within the definition of a municipal bank in section 103 of the Banking Act 1987 (municipal banks) .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "M",
      "label": "M1",
      "text": "1979 c.34. The definition of “credit union” in section 31(1) was substituted by paragraph 16 of Schedule 4 to the Co-operative and Community Benefit Societies Act 2014 (c. 14)."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "S.I. 1985/1205 (N.I. 12)."
    },
    {
      "type": "M",
      "label": "M3",
      "text": "1987 c. 22. The Act was repealed from 1st December 2001 by S.I. 2001/3649."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2017/752/regulation/3",
    "retrieved_at": "2026-10-28T23:09:36.065342+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}