Amendment of Schedule 7U.K.
16.—(1) In Schedule 7 (application and modification of legislation), Part 1 (application and modification of the Act) is amended as follows.
(2) In paragraph 2 (information gathering and investigations)—
(a)in sub-paragraph (8)(c), after “services” insert “ as defined in regulation 2(1) of the Payment Services Regulations 2017 M1, as amended from time to time ”;
(b)in sub-paragraph (10)(a)—
(i)omit “in a member State other than the United Kingdom”;
(ii)at the end insert “ , as it has effect in EU law ”.
(3) In paragraph 4 (warning notices and decision notices), in sub-paragraph (6)(b)—
(a)omit “(7A),”;
(b)after “(8A)” insert “ , (8AA) M2 ”.
Commencement Information
I1Reg. 16 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
Marginal Citations
M2Subsection (8AA) was inserted into section 391 of the Financial Services and Markets Act 2000 (c. 16) by S.I. 2019/632.