Search Legislation

The Payment Services Regulations 2009

 Help about what version

What Version

 Help about advanced features

Advanced Features

Changes over time for: Paragraph 6

 Help about opening options

Alternative versions:

Changes to legislation:

There are outstanding changes not yet made by the legislation.gov.uk editorial team to The Payment Services Regulations 2009. Any changes that have already been made by the team appear in the content and are referenced with annotations. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.

View outstanding changes

Changes and effects yet to be applied to Schedule 6 Paragraph 6:

Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:

Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):

The Money Laundering Regulations 2007U.K.

This section has no associated Explanatory Memorandum

6.  The Money Laundering Regulations 2007 are amended as follows—

(a)in regulation 2(1)—

(i)after the definition of “beneficial owner” insert—

bill payment service provider” means an undertaking which provides a payment service enabling the payment of utility and other household bills;;

(ii)after the definition of “ongoing monitoring” insert—

payment services” has the meaning given by regulation 2(1) of the Payment Services Regulations 2009;; and

(iii)after the definition of “tax adviser” insert—

telecommunication, digital and IT payment service provider” means an undertaking which provides payment services falling within paragraph 1(g) of Schedule 1 to the Payment Services Regulations 2009;;

(b)for regulation 17(5) substitute—

(5) In this regulation, “financial institution” excludes—

(a)any money service business;

(b)any authorised payment institution, EEA authorised payment institution or small payment institution (within the meaning of the Payment Services Regulations 2009) which provides payment services mainly falling within paragraph 1(f) of Schedule 1 to those Regulations.;

(c)in regulation 22(1)—

(i)in the definition of “Annex I financial institution”, at the end of sub-paragraph (b) omit “or” and after sub-paragraph (c) insert—

(d)a bill payment service provider; or

(e)a telecommunication, digital and IT payment service provider;; and

(ii)in the definition of “consumer credit financial institution”, at the end of sub-paragraph (b) omit “or” and after sub-paragraph (c) insert—

(d)a bill payment service provider; or

(e)a telecommunication, digital and IT payment service provider.;

(d)in regulation 23(1) at the end of sub-paragraph (d) insert—

(v)bill payment service providers which are not supervised by the Authority;

(vi)telecommunication, digital and IT payment service providers which are not supervised by the Authority.

(e)in regulation 25(1), at the end of sub-paragraph (b) omit “and” and after sub-paragraph (c) insert—

(d)bill payment service providers for which they are the supervisory authority; and

(e)telecommunication, digital and IT payment service providers for which they are the supervisory authority.;

(f)in regulation 26(1), at the end of sub-paragraph (b) omit “or” and after sub-paragraph (c) insert—

(d)bill payment service provider; or

(e)telecommunication, digital and IT payment service provider,;

(g)after regulation 49, insert the following regulation—

Disclosure by the Commissioners

49A.(1) The Commissioners may disclose to the Authority information held in connection with their functions under these Regulations if the disclosure is made for the purpose of enabling or assisting the Authority to discharge any of its functions under the Payment Services Regulations 2009.

(2) Information disclosed to the Authority under subsection (1) may not be disclosed by the Authority or any person who receives the information directly or indirectly from the Authority except—

(a)to, or in accordance with authority given by, the Commissioners;

(b)with a view to the institution of, or otherwise for the purposes of, any criminal proceedings;

(c)with a view to the institution of any other proceedings by the Authority, for the purposes of any such proceedings instituted by the Authority, or for the purposes of any reference to the Tribunal under the Payment Services Regulations 2009; or

(d)in the form of a summary or collection of information so framed as not to enable information relating to any particular person to be ascertained from it.

(3) Any person who discloses information in contravention of subsection (2) is guilty of an offence and liable—

(a)on summary conviction, to imprisonment for a term not exceeding three months, to a fine not exceeding the statutory maximum, or to both;

(b)on conviction on indictment, to imprisonment for a term not exceeding two years to a fine, or to both.

(4) It is a defence for a person charged with an offence under this regulation of disclosing information to prove that they reasonably believed

(a)that the disclosure was lawful; or

(b)that the information had already and lawfully been made available to the public.;

(h)in regulation 50—

(i)in paragraph (1) for “or an existing high value dealer” substitute “, an existing high value dealer, an existing bill payment service provider or an existing telecommunication, digital and IT payment service provider”;

(ii)at the end of paragraph (2) insert—

(d)in the case of an existing bill payment service provider or an existing telecommunication, digital and IT payment service provider, 1st March 2010.

(iii)in paragraph (3) for “or an existing high value dealer” substitute “, an existing high value dealer, an existing bill payment service provider or an existing telecommunication, digital and IT payment service provider”;

(iv)in paragraph (5) before the definition of “existing money service business” insert—

existing bill payment service provider” and “existing telecommunication, digital and IT payment service provider” mean a bill payment service provider or a telecommunication, digital and IT payment service provider carrying on business in the United Kingdom immediately before 1st November 2009;; and

(i)in Schedule 1 for paragraphs 4 and 5, substitute—

4.  Payment services as defined in Article 4(3) of Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market.

5.  Issuing and administering other means of payment (including travellers’ cheques and bankers’ drafts) insofar as this activity is not covered by point 4..

Commencement Information

I1Sch. 6 para. 6 comes into force in accordance with reg. 1(2)

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

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.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources