(1) This regulation applies where a payment order is initiated by the payee.
(2) The payee's payment service provider is liable to the payee for the correct transmission of the payment order to the payer's payment service provider in accordance with regulation 86(5) (payment transactions to a payment account).
(3) Where the payee's payment service provider is liable under paragraph (2), it must immediately re-transmit the payment order in question to the payer's payment service provider.
(4) The payee's payment service provider must also ensure that the transaction is handled in accordance with regulation 89 (value date and availability of funds), such that the amount of the transaction -
(a) is at the payee's disposal immediately after it is credited to the payee's payment service provider's account; and
(b) is value dated on the payee's payment account no later than the date the amount would have been value dated if the transaction had been executed correctly.
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