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The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019
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- UK Statutory Instruments
- 2019 No. 1212
- Explanatory Note
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EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations are made in exercise of the powers in section 2(2) of the European Communities Act 1972 (c. 68) and section 8(1) of the European Union (Withdrawal) Act 2018 (c. 16) to address failures of retained EU law to operate effectively and other deficiencies arising from the withdrawal of the United Kingdom from the European Union (in particular, the deficiencies under paragraphs (a), (b), (c), (d) and (g) of section 8(2)).
Regulations 2(2), 3, and 9 to 12 are made using the power in section 2(2) of the European Communities Act 1972 (c. 68), and all other provisions (except regulation 1) are made under the powers in section 8(1) of, and paragraph 21 of Schedule 7 to, the European Union (Withdrawal) Act 2018 (c. 16). Regulation 1 (citation and commencement) is made under a combination of the aforementioned powers in both Acts.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.
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