Payment service provider’s liability for unauthorised payment transactionsU.K.
This section has no associated Explanatory Memorandum
61. Subject to regulations 59 and 60, where an executed payment transaction was not authorised in accordance with regulation 55, the payment service provider must immediately—
(a)refund the amount of the unauthorised payment transaction to the payer; and
(b)where applicable, restore the debited payment account to the state it would have been in had the unauthorised payment transaction not taken place.
Commencement Information
I1Reg. 61 comes into force in accordance with reg. 1(2)