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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 13 January 2018 - onwards
  Version 5 of 5    

Regulation 35 Disapplication of certain regulations in the case of low-value payment instruments

Revoked from 13 January 2018

(1) This regulation applies in respect of payment instruments which, under the framework contract governing their use -

(a) can be used only to execute individual payment transactions of 30 euro or less, or in relation to payment transactions executed wholly within the United Kingdom, 60 euro or less;

(b) have a spending limit of 150 euro, or where payment transactions must be executed wholly within the United Kingdom, 300 euro; or

(c) store funds that do not exceed 500 euro at any time.

(2) Where this regulation applies -

(a) regulations 40 and 44 do not apply and the payment service provider is only required to provide the payer with information about the main characteristics of the payment service, including -

(i) the way in which the payment instrument can be used;

(ii) the liability of the payer, as set out in regulation 62;

(iii) charges levied;

(iv) any other material information the payer might need to take an informed decision; and

(v) an indication of where the informati

Comparing proposed amendment...