(1) If a person ("service provider") provides services of the type falling within paragraph 2(k)(i) to (iii) of Schedule 1 (limited network exclusion) and the total value of the payment transactions executed through such services provided by the service provider in any period of 12 months exceeds 1 million euros, the service provider must notify the FCA.
(2) The period of 12 months referred to in paragraph (1) does not include any period in respect of which a notification has already been made under paragraph (1).
(3) A notification under paragraph (1) must -
(a) include a description of the services offered; and
(b) specify the exclusion by virtue of which the services are not payment services.
(4) Notifications and information provided to the FCA under this regulation must be given -
(a) within such time as the FCA may direct after the end of the period of 12 months referred to in paragraph (1); and
(b) in such form or verified in such manner as the FCA may direct,
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