The Electronic Money Regulations 2011

The Tribunal U.K.

2.  Part 9 of the 2000 Act (hearings and appeals) M1 applies in respect of references to the Upper Tribunal made under these Regulations as it applies in respect of references to the Upper Tribunal made under that Act, with the following modifications—

(a) in section 133 M2 (proceedings before Tribunal: general provision)—

(i) omit subsection (1)(b) and (c);

(ii) in subsection (2) in the definition of “relevant decision” omit “, (b) or (c)”;

[F1 (iia) for subsection (7A) substitute—

“(7A) A reference is a “disciplinary reference” for the purposes of this section if it is in respect of any of the following decisions—

(a) a decision to publish a statement under regulation 50 of the Electronic Money Regulations 2011;

(b) a decision to impose a penalty under regulation 51 of those Regulations;

(c) a decision to suspend or impose a restriction on authorisation under regulation 52 of those Regulations;

(d) a decision to take action under section 66 of the 2000 Act as applied by those Regulations;

(e) a decision to take action under section 345 of the 2000 Act as applied by those Regulations.”;]

(b) in section 133A (decision and supervisory notices, etc)—

(i) in subsection (1) omit “, as a result of section 388(2),”; and

(ii) in subsection (3) for “has the same meaning as in section 395” substitute “ means a notice given under regulation 11(6), (9) or (10)(b) (including as applied by regulation 15) of the Electronic Money Regulations 2011 ”; and

(c) in section 133B (offences)—

(i) omit subsection (1)(b) and (c); and

(ii) in subsection (4)(a) for “the statutory maximum” substitute “ level 5 on the standard scale ”.

Textual Amendments

F1 Sch. 3 para. 2(a)(iia) inserted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(b)

Marginal Citations

M1 Sections 132 and 137 were repealed by S.I. 2010/22.

M2 Substituted, together with sections 133A and 133B, by S.I. 2010/22.