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Changes over time for: Paragraph 12G
Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 06/09/2019
Status:
Point in time view as at 01/03/2019. This version of this provision has been superseded.
Status
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Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
Changes to legislation:
The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, Paragraph 12G is up to date with all changes known to be in force on or before 26 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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[Extension periodU.K.
This
adran has no associated
Memorandwm Esboniadol
12G.—(1) The extension period in relation to a person begins—
(a)where the exit day conditions are met, with the day on which exit day falls, and
(b)where the transitional authorisation conditions are met, with the end of the transition period defined by paragraph 10.
(2) The extension period in relation to a person ends with the earliest of the following—
(a)the day before the date stated in accordance with regulation 9(5) of EMR 2011 as that on which the person’s authorisation as an electronic money institution (otherwise than by virtue of this Schedule) takes effect;
(b)the day on which the transfer to another person of the person’s business of providing electronic money issuance, redemption, distribution or payment services in the United Kingdom takes effect;
(c)in a case where the person has notified the FCA under paragraph 12C(1), the day determined by the FCA under paragraph 12F(2);
(d)in a case where the person has not notified the FCA under paragraph 12C(1), the time when all the person’s obligations under relevant contracts have been discharged;
(e)the day on which any cancellation under paragraph 12J takes effect;
(f)the day the person ceases to be authorised by its home state competent authority;
(g)the end of the period of 5 years beginning with the day on which the extension period began.
(3) “Relevant contract” has the same meaning as in paragraph 12F(3).]
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