The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018

25.—(1) Regulation 2 (interpretation) is amended as follows. U.K.

(2) In paragraph (1)—

(a) in the definition of “branch”—

(i) at the end of paragraph (b) insert “ or ”;

(ii) omit paragraphs (d) and (e);

(iii) omit the words from “and, for the purposes of these Regulations” to the end;

(b) omit the definition of “the capital requirements directive”;

(c) omit the definitions of—

“the EEA”;

“EEA agent”;

“EEA authorised payment institution”;

“EEA branch”;

“EEA registered account information service provider”;

(d) for the definitions of “electronic communications network” and “electronic communications service” substitute—

““electronic communications network” means transmission systems and, where applicable, switching or routing equipment and other resources which permit the conveyance of signals by wire, by radio, by optical or by other electromagnetic means, including satellite networks, fixed (circuit- and packet-switched, including Internet) and mobile terrestrial networks, electricity cable systems, to the extent that they are used for the purpose of transmitting signals, networks used for radio and television broadcasting, and cable television networks, irrespective of the type of information conveyed;

“electronic communications service” means a service normally provided for remuneration which consists wholly or mainly in the conveyance of signals on electronic communications networks, including telecommunications services and transmission services in networks used for broadcasting, but exclude services providing, or exercising editorial control over, content transmitted using electronic communications networks and services; it does not include information society services, as defined in Article 1 of Directive (EU) 2015/1535 of the European Parliament and of the Council of 9 September 2015 laying down a procedure for the provision of information in the field of technical regulations and of rules on Information Society services, which do not consist wholly or mainly in the conveyance of signals on electronic communications networks;”;

(e) in the definition of “electronic money”, for “Article 2(2) of the electronic money directive” substitute “ regulation 2(1) of the Electronic Money Regulations 2011 ”;

(f) omit the definition of “the electronic money directive”;

(g) in the definition of “electronic money institution”, for “Article 2(1) of the electronic money directive” substitute “ regulation 2(1) of the Electronic Money Regulations 2011 ”;

(h) omit the definition of “European Banking Authority”;

(i) omit the definitions of “home state competent authority” and “host state competent authority”;

(j) omit the definition of “the money laundering directive”;

(k) omit the definition of “passport right”;

(l) in the definition of “payment service provider”—

(i) omit paragraphs (d) and (e);

(ii) in paragraphs (f) and (g), for “EEA”, in each place, substitute “ United Kingdom ”;

(iii) in paragraph (i), for the words from “the European” to “their” substitute “ other than when acting in its ”;

(m) after the definition of “sensitive payment data” insert—

““the SEPA regulation” means Regulation (EU) No 260/2012 of the European Parliament and of the Council of 14 March 2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009;”.

(3) Omit paragraph (3).

Commencement Information

I1 Sch. 2 para. 25 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)