(This note is not part of the Instrument and does not purport to be a legal interpretation.)
This statutory instrument amends the European Union (Requirements for Credit Transfers and Direct Debits in Euro) Regulations 2013 (S.I. No. 132 of 2013).
The main purpose of these amendments is to designate the Competition and Consumer Protection Commission as a competent authority in respect of any contravention of Article 9(1) of Regulation (EU) No. 260/2012 of the European Parliament and of the Council of 14 March 2012 (the 'SEPA Regulation') where the payee is a consumer and the payer is a trader or any contravention of Article 9(2) of that Regulation where the payer is a consumer and the payee is a trader.
This statutory instrument also makes certain amendments so as to ensure, among other things, that infringements of the SEPA Regulation or of S.I. No. 132 of 2013 by entities which are supervised by the Central Bank may be prosecuted by the Central Bank under its Administrative Sanction
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