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The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018
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- UK Statutory Instruments
- 2018 No. 1201
- SCHEDULE 3
- PART 1A
- Paragraph 12HA
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The Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, Paragraph 12HA is up to date with all changes known to be in force on or before 01 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 3 Paragraph 12HA:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
[F1[F2Supervision and enforcement of persons to whom paragraph 12L (exemption from prohibition) appliesU.K.
This section has no associated Explanatory Memorandum
12HA.—(1) The following sub-paragraphs apply in relation to a person to whom paragraph 12L applies.
(2) Sections 165, 166, 175 and 177 of the 2000 Act, as modified by Schedule 3 to EMR 2011, apply as if the references to an electronic money issuer were references to a person who is exempt from the prohibition in regulation 63(1) of those Regulations by virtue of paragraph 12L.
(3) If the FCA considers that a person—
(a)has not notified the FCA in accordance with paragraph 12C; or
(b)has acted in a manner which the FCA considers contrary to the advancement of its objectives under EMR 2011 or the 2018 Regulations,
the FCA may publish a statement to that effect.
(4) The procedure in regulation 53 of EMR 2011 applies to the publication of a statement under sub-paragraph (3) as if the references to regulation 50 were references to this paragraph.
(5) Section 393(4) of the 2000 Act applies to notices issued in accordance with this paragraph in the same way as it applies to notices issued in accordance with regulation 53 in relation to the publication of statements under regulation 50 of EMR 2011 by virtue of paragraph 8 of Schedule 3 to EMR 2011.
(6) The FCA may, if it considers it appropriate to do so, publish information provided under paragraph 12C in respect of a person.
(7) Publication under sub-paragraph (6) is to be in such a manner as the regulator considers appropriate.]]
Textual Amendments
F1Sch. 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)
F2 Sch. 3 paras. 12H, 12HA substituted for Sch. 3 para. 12H (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 7(8)
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