Financial Services and Markets Act 2023 (c. 29)

SCHEDULES

SCHEDULE 2 U.K. Transitional amendments

PART 6 U.K. Amendments relating to critical third parties

58 U.K. In regulation 54 (injunctions)—

(a) omit “or” at the end of paragraph (1)(a);

(b) after paragraph (1)(b) insert—

“(c) that there is a reasonable likelihood that an electronic money institution will contravene a requirement imposed on it by or under section 312R of the 2000 Act; or

(d) that an electronic money institution has contravened such a requirement and that there is a reasonable likelihood that the contravention will continue or be repeated,”;

(c) in paragraph (2)(a) after “Regulations” insert “or an electronic money institution has contravened a requirement imposed on it by or under section 312R of the 2000 Act”;

(d) in the words after paragraph (2)(b), after “that person” insert “or institution”;

(e) omit “or” at the end of paragraph (3)(a);

(f) after that paragraph insert—

“(aa) in the case of an electronic money institution, contravened a requirement imposed on it by or under section 312R of the 2000 Act; or”;

(g) in paragraph (3)(b) for “such a requirement” substitute “a requirement described in sub-paragraph (a) or (aa)”.

Commencement Information

I1 Sch. 2 para. 58 not in force at Royal Assent, see s. 86(3)

I2 Sch. 2 para. 58 in force at 29.8.2023 by S.I. 2023/779, reg. 4(zz)(iv)