78.—(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.
Marginal Citations
M1Paragraph 2 was substituted by S.I. 2006/3221.