The Electronic Money Regulations 2011

Warning notices and decision notices U.K.

8.  Part 26 of the 2000 Act (notices) applies with the following modifications—

[F1 (za) in section 387 (warning notices), omit subsections (1A) and (3A);]

(a) in section 388 (decision notices), [F2 omit subsections (1A) and (2)];

(b) in section 390 M1 (final notices)—

(i) omit subsections (6) and (10); and

(ii) in subsection (8) omit “or (6)(c)”;

(c) in section 391 (publication)—

[F3 (iza) for subsection (1ZB) substitute—

“(1ZB) A warning notice falls within this subsection if it is given under—

(a) section 67;

(b) section 345B;

(c) regulation 10 of the Electronic Money Regulations 2011 (including regulation 10 as applied by regulation 15 of those Regulations);

(d) regulation 29 of those Regulations;

(e) regulation 35 of those Regulations;

(f) regulation 53 of those Regulations; or

(g) regulation 56 of those Regulations.”;

(izb) omit subsection (6A);]

(i) in subsection (10) for “has the same meaning as in section 395” substitute “ means a notice given under regulation 11(6), (9) or (10)(b) (including as applied by regulation 15) of[F4 , or paragraph 4 of Schedule 4A to,] the Electronic Money Regulations 2011 ”; and

(ii) omit subsection (11).

(d) for section 392 M2 (application of sections 393 and 394) substitute—

Sections 393 and 394 apply to—

(a) a warning notice given in accordance with regulations 10(4) (including as applied by regulation 15), 29(2) (in relation to the cancellation of a registration), 35(2), 53(1) or 56(1) of the Electronic Money Regulations 2011;

(b) a decision notice given in accordance with regulations 10(5)(a) (including as applied by regulation 15), 29(3)(a) (in relation to the cancellation of a registration), 35(3)(a), 53(3) or 56(3) of the Electronic Money Regulations 2011.”; and

(e) in section 395 [F5 (the FCA’s and PRA’s procedures)] in subsection (13) for “in accordance with” to the end substitute “ under regulation 11(6), (9) or (10)(b) (including as applied by regulation 15) of[F6 , or paragraph 4 of Schedule 2A to,] the Electronic Money Regulations 2011. ”.

Textual Amendments

F1 Sch. 3 para. 8(za) inserted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h)(i)

F2 Words in Sch. 3 para. 8(a) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h)(ii)

F3 Sch. 3 para. 8(c)(iza)(izb) inserted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h)(iii)(aa)

F4 Words in Sch. 3 para. 8(c)(i) inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 18(4)(c)(i)

F5 Words in Sch. 3 para. 8(e) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h)(iv)

F6 Words in Sch. 3 para. 8(e) inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 18(4)(c)(ii)

Marginal Citations

M1 Amended by S.I. 2010/22.

M2 Section 392 was amended by sections 24 and 29 of, and Schedule 2 to, the Financial Services Act 2010.