SCHEDULE 3Transitional Provisions
F1PART 1AContinuation of authorisation for limited purposes: Electronic Money Regulations 2011
Annotations:
Amendments (Textual)
F2Supervision and enforcement of persons to whom paragraph 12B applies12H
1
In relation to a person to whom paragraph 12B applies, the provisions of EMR 2011 (other than those disapplied by paragraph 7(1)) apply while the person is an authorised electronic money institution by virtue of paragraph 12B(4).
2
Paragraph 7(2) applies in relation to that person as if the reference—
a
to a person’s transitional authorisation were a reference to authorisation by virtue of paragraph 12B(4);
b
to the transition period were a reference to the extension period in paragraph 12G.
Sch. 3 Pt. 1A inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 10(2)