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The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018
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The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, Paragraph 32A is up to date with all changes known to be in force on or before 05 January 2025. 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.
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Changes and effects yet to be applied to Schedule 3 Paragraph 32A:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
[F1[F2Supervision and enforcement of persons to whom paragraph 36 appliesU.K.
This section has no associated Explanatory Memorandum
32A.—(1) The following sub-paragraphs apply in relation to a person to whom paragraph 36 applies.
(2) Sections 165, 166, 175 and 177 of the 2000 Act, as modified by paragraph 4 of Schedule 6 to the PSR 2017, apply as if the references to a payment service provider were to a person who is exempt from the prohibition in regulation 138(1) of those Regulations by virtue of paragraph 36.
(3) If the FCA considers that a person—
(a)has not notified the FCA in accordance with paragraph 27; or
(b)has acted in a manner which the FCA considers contrary to the advancement of its objectives under the PSR 2017 or the 2018 Regulations,
the FCA may publish a statement to that effect.
(4) The procedure in regulation 112 of the PSR 2017 applies to the publication of a statement under sub-paragraph (3) as if the references to regulation 110 were references to this paragraph.
(5) Section 393(4) of the 2000 Act applies to notices issued in accordance with this paragraph in the same way as it applies to notices issued in accordance with regulation 53 in relation to the publication of statements under regulation 110 of the PSR 2017 by virtue of paragraph 10 of Schedule 6 to the PSR 2017.
(6) The FCA may, if it considers it appropriate to do so, publish information provided under paragraph 27 in respect of a person.
(7) Publication under sub-paragraph (6) is to be in such a manner as the regulator considers appropriate.]]
Textual Amendments
F1Sch. 3 Pts. 3, 4 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 10(3)
F2 Sch. 3 paras. 32, 32A substituted for Sch. 3 para. 32 (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 7(15)
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