The Payment Accounts Regulations 2015

PART 2 — Application and modification of secondary legislation

The Financial Services and Markets Act 2000 (Service of Notices) Regulations 2001

8

The Financial Services and Markets Act 2000 (Service of Notices) Regulations 2001[^f00072] apply to any notice given by or to the Authority under these Regulations as they apply to relevant documents within the meaning of regulation 1(2)[^f00073] of those Regulations with the following modifications—

• (a) references to an investigating authority apply as if they are references to the Authority; and

• (b) regulation 6A is omitted.

The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

9

The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001[^f00074] apply with the following modifications—

• (a) in regulation 2[^f00075]—

• (i) after the definition of “overseas regulatory authority” insert—

• “Payment Accounts Directive” means Directive 2014/92/EU of the European Parliament and of the Council of 23rd July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features;
• “payment accounts directive information” means confidential information received by the Authority in the course of discharging its functions as the competent authority under the Payment Accounts Directive;

• (ii) in the definition of “single market restrictions”, after paragraph (m) add—

(n) Articles 21(2) and 22 of the Payment Accounts Directive;

• (b) in regulation 8[^f00076]—

• (i) at the end of paragraph (c) omit “and”; and

• (ii) at the of paragraph (d) insert—

; and (e) payment accounts directive information.

; and

• (c) in regulation 11[^f00077], after paragraph (g) insert—

(h) payment accounts directive information.

Signed

Charlie Elphicke — George Hollingbery — Two of the Lords Commissioners of Her Majesty’s Treasury — 2015-12-15

Explanatory note

(This note is not part of the Regulations)

EXPLANATORY NOTE

These Regulations implement Directive 2014/92/EU of the European Parliament and of the Council of 23rd July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features (“PAD”) (OJ L257, 28.8.2014, p.214).

Part 2 imposes obligations upon payment service providers (principally banks and building societies) that are intended to help consumers make an informed choice when choosing payment accounts (principally personal current accounts). Regulation 3 requires the Financial Conduct Authority (“FCA”) to publish a list of the most representative services linked to a payment account and subject to a fee. When describing those services, this list (“the linked services list”) will, where applicable, use terms and definitions that have been standardised at European Union level. Regulation 6 requires payment service providers to make available to consumers a glossary of the terms and definitions in the linked services list, and regulation 7 requires that payment service providers use the terminology in the linked services list in their contractual, commercial and marketing information. Regulation 8 requires payment service providers to provide prospective customers with a fee information document that meets the criteria set out in Schedule 1 before they enter into a contract for a payment account (which includes a requirement that the fee information document complies with any relevant implementing technical standards adopted by the European Commission). Regulation 10 requires payment service providers to provide their payment account customers with an annual statement of fees and regulation 12 tasks the Money Advice Service with establishing and maintaining a website that will allow consumers to compare the fees charged by payment service providers for the services featured in the linked services list.

Part 3 requires payment service providers to offer a service that allows its payment account customers to switch between payment accounts (“a switching service”). Payment service providers are required to ensure that any switching service offered meets the requirements set out in Schedule 3 (see regulation 14). However, the requirement to offer a Schedule 3 compliant switching service will not apply in instances where the payment service provider is a party to and complies with any switching service that the Payment Systems Regulator has designated as an alternative arrangement in accordance with the requirements set out in Schedule 4 (see regulations 14 and 15).

Part 4 requires credit institutions that have been designated by the Treasury in accordance with the procedure set out in Schedule 6 to offer eligible consumers a payment account with basic features. Regulation 19 sets out the nature of the services that will be offered as part of a payment account with basic features, and regulation 23 prescribes the eligibility criteria.

Part 5 makes provision regarding the FCA. Regulation 28 requires the FCA to monitor payment service providers’ compliance with the requirements of Parts 2, 3 and 4 of these Regulations. Regulation 29 confers power on the FCA to require payment service providers to provide it with such information as it may specify for this purpose. Regulation 30 gives the FCA a power of direction over payment service providers, by virtue of which the FCA may require a payment service provider to take specified action (or refrain from taking specified action) in order to secure compliance with the requirements of Parts 2, 3 and 4. Regulation 33 gives the FCA the power to publish statements censuring payment service providers for failure to comply with requirements imposed by these Regulations and regulation 34 gives the FCA the power to impose financial penalties on payment service providers in respect such failures. Regulation 35 gives the FCA the power to discipline individuals responsible for the management of a payment service provider that has breached a requirement imposed by these Regulations. Regulation 42 introduces Schedule 7, which applies certain provision in the Financial Services and Markets Act 2000 (c. 8) (“FSMA”) with modifications in respect of the FCA’s functions under the Regulations.

A Transposition Table setting out how the PAD is transposed into UK law is available from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ.

A full impact assessment of the effect that these Regulations will have on the costs of business and the voluntary sector is available from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ or on http://www.hm-treasury.gov.uk and published alongside the Regulations on http;//www.legislation.gov.uk/.

Footnotes

[^f00001]: S.I. 2012/1759.

[^f00002]: 1972 c. 68. Section 2(2) was amended by section 27(1)(a) of the Legislative and Regulatory Reform Act 2006 (c.51) and the European Union (Amendment) Act 2008 (c.7), Schedule, Part 1. By virtue of the amendment of section 1(2) by section 1 of the European Economic Area Act 1993 (c.51) regulations may be made under section 2(2) of the European Communities Act to implement obligations of the United Kingdom created or arising by or under the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 (Cm 2073) and the Protocol adjusting the Agreement signed at Brussels on 17th March 1993 (Cm 2183).

[^f00003]: 2000 c.8.

[^f00004]: 1979 c.34; Section 31 was amended by section 151(1) of, and paragraph 16(2)(b) of Part 1 of Schedule 4 to the Co-operative and Community Benefit Societies Act 2014 c.14.

[^f00005]: S.I. 1985/1205 (N.I. 12).

[^f00007]: OJ No L 257, 28.8.2014, p214.

[^f00009]: 2013 c.33.

[^f00010]: Part 9A was substituted for the original Part 10 (sections 138-164) by section 24(1) of the Financial Services Act 2012.

[^f00011]: OJ No L 133, 22.5.2008, p66.

[^f00012]: Regulation 3 was amended by S.I. 2010/1969 and S.I. 2013/1881.

[^f00013]: Regulation 10 was amended by S.I. 2010/1969 and S.I. 2011/11.

[^f00014]: S.I. 2010/1013.

[^f00015]: Section 55C was inserted by S.I. 2010/1010 and amended by S.I. 2013/1881 and S.I. 2015/910.

[^f00016]: Section 61B was inserted by S.I. 2010/1010.

[^f00017]: 1974 c.39.

[^f00018]: S.I. 1983/1570.

[^f00019]: Section 78A was inserted by S.I. 2010/1010.

[^f00021]: 1999 c.33; section 94 was amended by S.I. 2008/2833 and sections 44, 60(2) and 161 of, and Schedule 9 to, the Nationality, Immigration and Asylum Act 2002 (c.41) (of the amendments made to section 94 by the 2002 Act, only the amendment given effect by section 60(2) has entered in to force to date).

[^f00022]: 2006 c.35.

[^f00024]: Section 40 was amended by S.I. 2014/3074.

[^f00025]: 2014 c.22.

[^f00026]: Part 4A was substituted for the original Part IV by section 11(2) of the Financial Services Act 2012.

[^f00027]: Section 4 was amended by sections 111 and 174(2) of, paragraph 26(1) and (34) of Part 1 of Schedule 7 to, and Part 2 of Schedule 17 to, the Serious Organised Crime and Police Act 2005 (c. 15).

[^f00028]: Section 4A was inserted by section 154 of the Criminal Justice and Public Order Act 1994 (c.33) and was amended by section 174(2) of, and Part 2 of Schedule 2 to, the Serious Organised Crime and Police Act 2005.

[^f00029]: Section 5 was amended by section 57(2) of the Crime and Courts Act 2013 (c.22), and Part 2 of Schedule 2 to, the Serious Organised Crime and Police Act 2005.

[^f00030]: 1986 c.64.

[^f00031]: 1997 c.40.

[^f00032]: 2010 asp 13.

[^f00033]: S.I. 1987/463 (N.I.7).

[^f00034]: S.I. 1997/1180 (N.I.9).

[^f00035]: Section 393 was amended by section 37(1) of, and paragraphs 1 and 32 of Schedule 9 to the Financial Services Act 2012.

[^f00036]: Section 210 was amended by section 24 of, and paragraph 20 of Schedule 2 to, the Financial Services Act 2010 and section 37 of, and paragraph 17 of Schedule 9 to the Financial Services Act 2012.

[^f00037]: Section 211 was amended by section 37 of, and paragraph 18 of Schedule 9 to, the Financial Services Act 2012.

[^f00038]: Section 206 was amended by section 37 of, and paragraph 12 of Schedule 9 to, the Financial Services Act 2012.

[^f00039]: Paragraph 23 of Part 3 of Schedule 1ZA was amended by section 47 of, and paragraphs 1 and 16 of Schedule 3 to, the Pension Schemes Act 2015 (c. 8) and by section 129 of, and paragraphs 7(1) and (3) of Part 1 of Schedule 8 to, the Financial Services (Banking Reform) Act 2013 (c.33) and by S.I. 2013/1773.

[^f00040]: Paragraph 25 of Part 4 of Schedule 1ZA was amended by section 109(1) of the Financial Services (Banking Reform) Act 2013.

[^f00041]: OJ No L 94, 30.3.2012, p.22.

[^f00042]: 1998 c.42.

[^f00043]: Section 234I was inserted by section 129 of, and paragraphs 1 and 3 of Part 1 of Schedule 8 to, the Financial Services (Banking Reform) Act 2013.

[^f00044]: Section 234J was inserted by section 129 of, and paragraphs 1 and 3 of Part 1 of Schedule 8 to, the Financial Services (Banking Reform) Act 2013.

[^f00045]: Section 133 was substituted by S.I. 2010/22 and subsequently amended by section 23(1) and (2) of the Financial Services Act 2012 (c. 21), and section 17 of, and paragraph 83 of Part 3 of Schedule 9 to, the Crime and Courts Act 2013 (c. 22) and by S.I. 2013/1388 and S.I. 2014/3329.

[^f00046]: Section 133B was substituted by S.I. 2010/22 and subsequently amended by section 23(1) and (4) of the Financial Services Act 2012.

[^f00047]: Section 133A was substituted by S.I. 2010/22 and subsequently amended by section 23(1) and (3) of the Financial Services Act 2012.

[^f00048]: Section 165A was inserted by section 18(1) and (2) of the Financial Services Act 2010 (c.28) and subsequently amended by section 41 of, and paragraph 2 of Part 1 of Schedule 12 to, the Financial Services Act 2012. Section 165B was inserted by section 18(1) and (2) of the Financial Services Act 2010 and subsequently amended by section 41 of, and paragraph 3 of Part 1 of Schedule 12 to, the Financial Services Act 2012. Section 165C was inserted by section 18(1) and (2) of the Financial Services Act 2010 and subsequently amended by section 41 of, and paragraph 4 of Part 1 of Schedule 12 to, the Financial Services Act 2012.

[^f00049]: Section 169A was inserted by section 18(1) and (3) of the Financial Services Act 2010 and subsequently amended by section 41 of, and paragraph 10 of Part 1 of Schedule 12 to, the Financial Services Act 2012.

[^f00050]: Section 165 was amended by section 24(1) and (2) of, and by paragraphs 1 and 15 of Part 1 of Schedule 2 to, the Financial Services Act 2010, and by section 41 of, and paragraph 1 of Part 1 of Schedule 12 to, the Financial Services Act 2012, and by S.I. 2013/1773 and S.I. 2015/575.

[^f00051]: Section 166 was substituted by section 41 of, and paragraph 5 of Part 1 of Schedule 12 to, the Financial Services Act 2012.

[^f00052]: Section 166A was inserted by section 41 of, and paragraph 6 of Part 1 of Schedule 12 to, the Financial Services Act 2012.

[^f00053]: Section 167 was amended by section 41 of, and paragraph 7(1), (2) and (3) of Part 1 of Schedule 12 to, the Financial Services Act 2012, and by S.I. 2007/126 and S.I. 2015/575.

[^f00054]: Section 168 was amended by section 41 of, and paragraphs 8(1), 8(2)(a) and (b), 8(3)(a) and (b), 8(4)(a)-(g), 8(5) and 8(6) of Part 1 of Schedule 12 to, the Financial Services Act 2012, by section 47 of, and paragraph 1 and 11 of Schedule 3 to, the Pension Schemes Act 2015 (c.8), and by section 62 of, and paragraph 33 of Part 7 of Schedule 7 to, the Counter-Terrorism Act 2008 (c. 28), and by section 24(1) and (2) of, and paragraphs 1 and 16(1), (2) and (3) of Part 1 of Schedule 2 to, the Financial Services Act 2010, and by S.I. 2007/126, S.I. 2012/2554 and S.I. 2013/1773.

[^f00055]: Section 169 was amended by section 41 of, and paragraph 9(1), (2) and (6) of Part 1 of Schedule 12 to, the Financial Services Act 2012.

[^f00056]: Section 170 was amended by section 41 of, and paragraph 10 of Part 1 of Schedule 12 to, the Financial Services Act 2012.

[^f00057]: Section 171 was amended by S.I. 2007/126.

[^f00058]: Section 174 was amended by section 41 of, and paragraph 12 of Part 1 of Schedule 12 to, the Financial Services Act 2012.

[^f00059]: Section 175 was amended by section 41 of, and paragraph 13 of Part 1 of Schedule 12 to, the Financial Services Act 2012.

[^f00060]: Section 176 was amended by section 41 of, and paragraph 14 of Part 1 of Schedule 12 to, the Financial Services Act 2012, and by section 24(1) and (2) of, and paragraphs 1 and 17 of Part 1 of Schedule 2 to, the Financial Services Act 2010, and by S.I. 2005/1433.

[^f00061]: Section 348 was amended by section 24(1) and (2) of, and paragraphs 1 and 26 of Part 1 of Schedule 2 to, the Financial Services Act 2010, and by section 41 of, and paragraph 18 of Part 2 of Schedule 12 to, the Financial Services Act 2012, and by section 129 of, and paragraph 5 of Part 1 of Schedule 8 to, the Financial Services (Banking Reform) Act 2013.

[^f00062]: Section 349 was amended by section 41 of, and paragraph 19(1) to (4) of Part 2 of Schedule 12 to, the Financial Services Act 2012, and by section 964(1) and (4) of the Companies Act 2006 (c.46), and by S.I. 2006/1183 and S.I. 2007/1093.

[^f00063]: Section 391A was inserted by S.I. 2013/3115.

[^f00064]: Section 387 was amended by section 37(1) of, and paragraph 1 of Part 1 and paragraph 26 of Part 6 of Schedule 9 to, the Financial Services Act 2012.

[^f00065]: Section 388 was amended by section 37(1) of, and paragraph 1 of Part 1 and paragraph 27 of Part 6 of Schedule 9 to, the Financial Services Act 2012.

[^f00066]: Section 390 was amended by section 37(1) of, and paragraph 1 of Part 1 and paragraph 29 (1) to (5) of Part 6 of Schedule 9 to, the Financial Services Act 2012, and by S.I. 2010/22.

[^f00067]: Section 391 was amended by sections 24(2) and 37(1) of, and paragraph 1 of Part 1 and paragraph 30 (1) to (8) of Part 6 of Schedule 9 to, the Financial Services Act 2012, and by sections 13(1) and (3) and 24(1) and (2) of, and paragraphs 1 and 28 of Part 1 of Schedule 2 to, the Financial Services Act 2010 and by S.I. 2012/916, S.I. 2013/1388, S.I. 2013/3115, and S.I. 2014/2879.

[^f00068]: Section 392 was amended by sections 18(1) and (5), section 35, section 37(1) and section 42 of, and paragraphs 1 and 37 of Schedule 8, and paragraph 1 of Part 1 and paragraph 31 of Part 6 of Schedule 9 and paragraph 8 of Schedule 13 to, the Financial Services Act 2012, and by section 24(1) and (2) of, and paragraphs 1 and 29 of Part 1 of Schedule 2 to, the Financial Services Act 2010, and by S.I. 2007/126 and S.I. 2013/1388.

[^f00069]: Section 395 was amended by section 17(1) and (3), section 18(1) and (6), section 19(2), section 24(3) and section 37(1) of, and paragraph 1 of Part 1 and paragraph 34 (1) to (15) of Part 6 of Schedule 9 to, the Financial Services Act 2012 and by S.I. 2005/381, S.I. 2005/1433, S.I. 2007/1973, S.I. 2009/534 and S.I. 2013/1388.

[^f00070]: Section 398 was amended by section 37(1) of, and paragraph 1 of Part 1 and paragraph 36(1) and (3) of Part 7 of Schedule 9 to, the Financial Services Act 2012, and by S.I. 2013/1773.

[^f00071]: Section 401 was amended by section 37(1) of, and paragraph 1 of Part 1 and paragraph 38 of Part 7 of Schedule 9 to, the Financial Services Act 2012 and by S.I. 2013/1881.

[^f00072]: S.I. 2001/1420.

[^f00073]: Regulation 1(2) was amended by S.I. 2010/1193, S.I. 2013/472 and S.I. 2014/549.

[^f00074]: S.I. 2001/2188.

[^f00075]: Regulation 2 was amended by S.I. 2003/693, S.I. 2003/2066, S.I. 2004/1862, S.I. 2004/3379, S.I. 2006/3413, S.I. 2010/2628, S.I. 2012/916, S.I. 2012/2554, S.I. 2013/472, S.I. 2013/504, S.I. 2013/1162, S.I. 2013/1773, S.I. 2013/3115, S.I. 2014/3348, S.I. 2015/575, and S.I. 2015/910.

[^f00076]: Regulation 8 was substituted by S.I. 2006/3413 and subsequently amended by S.I. 2012/916, S.I. 2013/504 and S.I. 2014/3348.

[^f00077]: Regulation 11 was amended by S.I. 2003/2066, S.I. 2006/3413, S.I. 2011/1613, S.I. 2012/916, S.I. 2013/504 and S.I. 2014/3348.

Editorial notes

[^key-2b3dd12d7c48f39f2784dd3b72e298f7]: Words in reg. 25(1)(b) substituted (26.6.2017) by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692), reg. 1(2), Sch. 7 para. 33 (with regs. 8, 15)

[^key-0a49ae0e3f569d46afa080669e5b7cbd]: Reg. 26(2)(g) inserted (30.10.2017) by The Immigration Act 2016 (Consequential Amendments) Regulations 2017 (S.I. 2017/931), regs. 1, 2(2)

[^key-e1d6ac43f4ececfa1b71f00ac7e303e0]: Words in reg. 10(1) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(c) (with reg. 3)

[^key-1ab8dcfbcf4cafb491e4eea0f8a8e7b9]: Word in reg. 2(1) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(a) (with reg. 3)

[^key-7332e9f480d40446cb1e2baf191a04da]: Words in reg. 8(1)(a) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(b) (with reg. 3)

[^key-1edfe41f9aca4c2e222362fdc1a41572]: Words in Sch. 3 para. 4(1)(e) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(d)(i) (with reg. 3)

[^key-4885e4c2f4e1eb44dc18bfd429e206a6]: Words in Sch. 3 para. 5(3) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(d)(ii) (with reg. 3)

[^key-f04dbb5d118dab1944d99301f3dd91f8]: Words in Sch. 3 para. 6(3) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(d)(iii) (with reg. 3)

[^key-4fa6716e3f6cf206bd6aa2632ec3b11f]: Words in Sch. 5 para. 3(2) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(e) (with reg. 3)

[^key-b8b0437787e2ccf6511f8423908d7fad]: Words in reg. 2(1) omitted (6.4.2019) by virtue of The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 27(a)(i)

[^key-acc31df900e1e085d1906cb674a1c22d]: Words in reg. 2(1) inserted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 27(a)(ii)

[^key-6e1a409129067992a743dc112e68b858]: Words in reg. 12 substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 27(b)

[^key-d3f1394877408ea15e22ffc541730dc3]: Words in reg. 27(1) substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 27(c)

[^key-58e3419dbe9fed33fc4a4d087053c47b]: Reg. 17 omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 4(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-99a152636b2f4ee92eaa1c77949ffc14]: Words in reg. 2(1) omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 5(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-ade408bbbac89c90d812f59cd1233e57]: Words in reg. 2(1) omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 5(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-144583ad25f9a46c7b06929a09c450ff]: Words in reg. 3(1) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 6(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-131a4d3768d083f129df22fb1d50dcc7]: Word in reg. 3(2) inserted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 6(b)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-7df7d7fa0b843064ce495b12cf03e170]: Reg. 3(2)(c) and word omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 6(b)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-c1bf715ff002e150b03d72036d1ad309]: Reg. 4(1) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 7(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-89e78f0a1a7adeb32e33ff37391653b7]: Reg. 4(2) omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 7(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-6f85885943b32cd7802c5f3b47d0161a]: Reg. 5 omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 4(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-8c9094a4cf432f6198da9a419929f8a6]: Words in reg. 8(1)(b) inserted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 8 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1) (as amended by S.I. 2020/1301, regs. 1, 3 Sch. para. 36)

[^key-1de2b2f97e31474811f28ad80bed5fa8]: Words in reg. 18(1) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 9 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-06d70cf84be2d137b4298f67a8c4fa89]: Reg. 19(3A) inserted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 10(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-37e81419916e375760bd8b3136babdb7]: Words in reg. 19(1)(c) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 10(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-7458a0ff154f05d28fc60399b61be65a]: Words in reg. 19(1)(d) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 10(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-a7be652eed2658243c84c1e0c185763b]: Words in reg. 20(1) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 11 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-9759b94a3bb8f17fd7c43bbf3f4f1ab8]: Words in reg. 23(1) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 3(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-5faebb0b22f2953b54b96dbb7c260c4e]: Words in reg. 23(2)(a) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 3(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-884457318dcf07f20e4cadef0135d996]: Words in reg. 26(2)(d) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 3(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-aab58050edc0ca62e511f086d279aa9c]: Reg. 43(1)(b) omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 13(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-104b898dd122261c965fd2fa00cf8e70]: Words in reg. 43(1) substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 13(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-efbc83885e14bf35c7d98762e9971b7c]: Reg. 43(2) omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 13(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-0ebedf2c2eadeab1b8c84fbc9e5fc9de]: Sch. 1 para. 1 substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 14(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-55762a247979c638384d731bee7f5bfd]: Words in Sch. 1 para. 4(e) omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 14(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-cb2f95f2c79278031afda307c67f22de]: Sch. 2 para. 1 substituted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 15 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-f45ccef282a7fa475ebede71e82edd49]: Words in Sch. 7 para. 2(8)(c) inserted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 16(2)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-b080b06ea2ce37590fc9fa1664ae3d87]: Words in Sch. 7 para. 2(10)(a) omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 16(2)(b)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-8067616b2e7f127c5b414885fb8d0001]: Words in Sch. 7 para. 2(10)(a) inserted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 16(2)(b)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-beb0d10fea2828a61681eec0eaa9808e]: Word in Sch. 7 para. 4(6)(b) omitted (31.12.2020) by virtue of The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 16(3)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-d76f96361d948a668d2c3c013d70dddd]: Word in Sch. 7 para. 4(6)(b) inserted (31.12.2020) by The Payment Accounts (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/661), regs. 1(3), 16(3)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-e191e06365dd61f8cfe4c372b858d28e]: Regulations: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pt. 2; S.I. 2023/779, reg. 2(d)

[^M_F_d40f73f6-63ab-463b-92d7-8e427f411400]: Regulations revoked (14.12.2023 for the revocation of reg. 44) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xiv)

[^key-2e819a245fbf4dd57d7b1c540b7270a2]: Words in reg. 2(1) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 11(2)(a)

[^key-8a432d504936535c4bcb33f07c53d522]: Words in reg. 2(1) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 11(2)(b)

[^key-100a8364992c2df5531dc7d4d5c2a35d]: Words in reg. 2(1) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 11(2)(c)

[^key-9b55c4c001049560356c320f87ee314a]: Word in reg. 28(1)(a) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 11(3)

[^key-de2af18b305991c6427dbc8384c2ad3a]: Word in reg. 29(1) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 11(4)

[^key-52d9dec699cef2a1d84e4be5ae3bd9c8]: Word in reg. 30(1) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 11(5)

[^key-c8133f0b82501e68c1ccd37ef5c126c3]: Reg. 40A omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 11(6)

Technical standards

40A

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Authority’s exemption from liability in damages

Application and modification