PART 7GENERAL

Transitional provisions

Amendments to the banking consolidation directive78

1

For the purposes of the application of the 2000 Act or any provision made under or by virtue of it in relation to any person during the transitional period, paragraph 2 of Schedule 3 M1 to that Act (definition of “Banking Consolidation Directive”) shall be read as if the amendments of the banking consolidation directive by the electronic money directive had not been made.

2

The “transitional period” means the period beginning when this regulation comes into force and ending with—

a

29th October 2011 in the case of a person falling within regulation 75(1);

b

29th April 2011 otherwise.