- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
14. Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 2015 on information accompanying transfer of funds and repealing Regulation (EC) No 1781/2006 is amended in accordance with regulations 15 to 19.
15.—(1) In Article 1, for “Union” substitute “United Kingdom”.
(2) Article 2 is amended as follows—
(a)in paragraph 1, for “Union” substitute “United Kingdom”;
(b)in paragraph 2, for “points (a) to (m) and (o) of Article 3 of Directive 2007/64/EC” substitute “sub-paragraphs (a) to (m) and (o) of paragraph 2 of Schedule 1 to the Payment Services Regulations 2017(1)”;
(c)in paragraph 4(b), omit “within a Member State”;
(d)omit paragraph 5.
(3) Article 3 is amended as follows—
(a)in point (1) (the definition of “terrorist financing”), for “Article 1(5) of Directive (EU) 2015/849” substitute “regulation 3(1) of the 2017 Regulations”;
(b)for point (2) (the definition of “money laundering”), substitute—
“(2) “money laundering” has the meaning given by section 340(11) of the Proceeds of Crime Act 2002(2);”;
(c)for point (5) (the definition of “payment service provider”), substitute—
“(5) “payment services provider” has the meaning given in regulation 2(1) of the Payment Services Regulations 2017;”;
(d)for point (7) (the definition of “payment account”), substitute—
“(7) “payment account” has the meaning given in regulation 2(1) of the Payment Services Regulations 2017;”;
(e)in point (8) (the definition of “funds”) for “point (15) of Article 4 of Directive 2007/64/EC” substitute “regulation 2(1) of the Payment Services Regulations 2017”;
(f)in point (9) (the definition of “transfer of funds”), in point (c), for “point (13) of Article 4 of Directive 2007/64/EC” substitute “regulation 2(1) of the Payment Services Regulations 2017”;
(g)after point (12), insert—
“(13) “the 2017 Regulations” means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.”.
16.—(1) In Article 4, in paragraph 5—
(a)for “Article 13 of Directive (EU) 2015/849” substitute “regulation 28 of the 2017 Regulations”;
(b)for “Article 40 of that Directive” substitute “regulation 40 of those Regulations”;
(c)for “Article 14(5) of Directive (EU) 2015/849” substitute “regulation 27(8) of the 2017 Regulations”.
(2) In Article 5, in paragraph 1, for “Union” substitute “United Kingdom or Gibraltar”;
(3) In Article 6, in paragraphs 1 and 2, for “Union” substitute “United Kingdom or Gibraltar”;
(4) In Article 7—
(a)in paragraph 2, for “Union”, each time it occurs, substitute “United Kingdom or Gibraltar”;
(b)in paragraph 3, for “Articles 69 and 70 of Directive 2007/64/EC” substitute “regulations 52 and 53 of the Payment Services Regulations 2017”;
(c)in paragraph 5—
(i)for “Article 13 of Directive (EU) 2015/849” substitute “regulation 28 of the 2017 Regulations”;
(ii)for “Article 40 of that Directive” substitute “regulation 40 of those Regulations”;
(iii)for “Article 14(5) of Directive (EU) 2015/849” substitute “regulation 27(8) of the 2017 Regulations”.
(5) In Article 8.1, for “Article 13 of Directive (EU) 2015/849” substitute “regulation 28 of the 2017 Regulations”.
(6) In Article 9, for “Directive (EU) 2015/849”, substitute “the 2017 Regulations”.
(7) In Article 11(2), for “Union” each time it occurs, substitute “United Kingdom or Gibraltar”.
(8) In Article 13, for “Directive (EU) 2015/849”, substitute “the 2017 Regulations”.
17.—(1) In Article 14—
(a)omit the words from “, including by” to “are established”;
(b)for “that Member State” substitute “the United Kingdom or Gibraltar”.
(2) In Article 15—
(a)in paragraph 1—
(i)for “Directive 95/46/EC, as transposed into national law” substitute “the data protection legislation (within the meaning of section 3(9) of the Data Protection Act 2018(3))”;
(ii)omit the second sentence;
(b)in paragraph 3, for “Article 10 of Directive 95/46/EC” substitute “Article 13 of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data”.
18. Omit Articles 17 to 22.
19. Omit Articles 23 to 25.
20. Commission Delegated Regulation (EU) 2018/1108 of 7th May 2018 supplementing Directive (EU) 2015/849 of the European Parliament and of the Council with regulatory technical standards on the criteria for the appointment of central contact points for electronic money issuers and payment service providers and with rules on their functions is revoked.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: