SCHEDULE 2Amendments of subordinate legislation

PART 2Amendments of Payment Services Regulations 2017

55.

In regulation 123 (interpretation of Part 10)—

(a)

in the definition of “compliance failure”, in paragraph (a), for “directive” substitute “ qualifying ”;

(b)

omit the definition of “directive requirement”;

(c)

after the definition of “general guidance” insert—

““qualifying requirement” means an obligation, prohibition or restriction imposed by regulation 61 (information on ATM withdrawal charges) or Part 8 (access to payment systems and bank accounts), with the exception of the obligation imposed on the FCA by regulation 105(5) (access to bank accounts);”;

(d)

in the definition of “regulated person”, for “directive” substitute “ qualifying ”.