European Union (Payment Services) Regulations 2018 [S.I. No. 6 of 2018]

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Version status: In force | Document consolidation status: Updated to reflect all known changes

Published date: 12 January 2018

Consolidation Status: Updated to reflect all known changes

Comparing proposed amendment...


	Introductory Text
	Part 1 Preliminary (regs. 1-5)
In force	Regulation 1 Citation and commencement
In force	Regulation 2 Interpretation
In force	Regulation 3 Application of certain provisions of these Regulations
In force	Regulation 4 Payment transactions, etc., to which these Regulations do not apply
In force	Regulation 5 Relationship with Consumer Credit Act 1995
	Part 2 Payment Service Providers (regs. 6-61)
	Chapter 1 Right to Provide Payment Services (reg. 6)
In force	Regulation 6 Payment service providers
	Chapter 2 Payment Institutions (regs. 7-42)
In force	Regulation 7 Applications for authorisation
In force	Regulation 8 Initial capital
In force	Regulation 9 Own funds
In force	Regulation 10 Basis for calculation of own funds
In force	Regulation 11 Calculation of own funds - directions
In force	Regulation 12 Method A
In force	Regulation 13 Method B
In force	Regulation 14 Method C
In force	Regulation 15 Scaling factor
In force	Regulation 16 Adjustment to own funds requirement
In force	Regulation 17 Safeguarding requirements
In force	Regulation 18 Granting of authorisation
In force	Regulation 19 Conditions
In force	Regulation 20 Separate entity
In force	Regulation 21 Head office
In force	Regulation 22 Adjustments to business plan
In force	Regulation 23 Communication of decision
In force	Regulation 24 Withdrawal of authorisation
In force	Regulation 25 Register
In force	Regulation 26 European Banking Authority Register
In force	Regulation 27 Maintenance of authorisation
In force	Regulation 28 Accounting and statutory audit
In force	Regulation 29 Activities
In force	Regulation 30 Use of agents, branches or entities to which activities are outsourced
In force	Regulation 31 Liability
In force	Regulation 32 Record-keeping
In force	Regulation 33 Competent authority
In force	Regulation 34 Supervision
In force	Regulation 35 Appealable decisions
In force	Regulation 36 Settlement of disagreements between competent authorities of different Member States
In force	Regulation 37 Application to exercise the right of establishment and freedom to provide services
In force	Regulation 38 Supervision of payment institutions exercising the right of establishment and freedom to provide services
In force	Regulation 39 Measures in case of non-compliance, including precautionary measures
In force	Regulation 40 Reasons and communication
In force	Regulation 41 Conditions (small payment institutions)
In force	Regulation 42 Account information service providers
	Chapter 3 Common Provisions (regs. 43-46)
In force	Regulation 43 Access to payment systems
In force	Regulation 44 Access to accounts maintained with a credit institution
In force	Regulation 45 Notification of use of limited network exclusion
In force	Regulation 46 Notification of use of electronic communications exclusion
	Chapter 4 Control of Shareholding (regs. 47-61)
In force	Regulation 47 Control of shareholding - Interpretation
In force	Regulation 48 Restrictions on acquiring and disposing of qualifying holdings in payment institutions
In force	Regulation 49 Application to court where no notification given
In force	Regulation 50 Payment institution to provide information in relation to certain acquisitions and disposals
In force	Regulation 51 Period for assessment of proposed acquisition
In force	Regulation 52 Assessment of proposed acquisitions
In force	Regulation 53 Bank to cooperate with competent authorities of other Member States in certain cases
In force	Regulation 54 Notice of Bank's decision
In force	Regulation 55 Bank may fix period for completion of acquisition
In force	Regulation 56 Bank may impose conditions
In force	Regulation 57 Bank may oppose certain acquisitions
In force	Regulation 58 Circumstances in which proposed acquisition may be completed
In force	Regulation 59 Effect of section 450 of Companies Act 2014
In force	Regulation 60 Payment institutions to provide information about shareholdings, etc.
In force	Regulation 61 Power of court to make certain orders
	Part 3 Transparency of Conditions and Information Requirements for Payment Services (regs. 62-84)
	Chapter 1 General Rules (regs. 62-66)
In force	Regulation 62 Scope
In force	Regulation 63 Operation of other legislative provisions
In force	Regulation 64 Charges for information
In force	Regulation 65 Burden of proof on information requirements
In force	Regulation 66 Derogation from information requirements for low-value payment instruments and electronic money
	Chapter 2 Single Payment Transactions (regs. 67-73)
In force	Regulation 67 Scope
In force	Regulation 68 Prior general information
In force	Regulation 69 Information
In force	Regulation 70 Information for the payer and payee after the initiation of a payment order
In force	Regulation 71 Information for payer's account servicing payment service provider
In force	Regulation 72 Information for the payer after receipt of the payment order
In force	Regulation 73 Information for the payee after execution
	Chapter 3 Framework Contracts (regs. 74-82)
In force	Regulation 74 Scope
In force	Regulation 75 Prior general information
In force	Regulation 76 Information
In force	Regulation 77 Accessibility of information and conditions of the framework contract
In force	Regulation 78 Changes in conditions of the framework contract
In force	Regulation 79 Termination
In force	Regulation 80 Information before execution of individual payment transactions
In force	Regulation 81 Information for the payer on individual payment transactions
In force	Regulation 82 Information for the payee on individual payment transactions
	Chapter 4 Common Provisions (regs. 83-84)
In force	Regulation 83 Currency and currency conversion
In force	Regulation 84 Information on additional charges or reductions
	Part 4 Rights and Obligations in Relation to the Provision and use of Payment Services (regs. 85-135)
	Chapter 1 Common provisions (regs. 85-87)
In force	Regulation 85 Scope
In force	Regulation 86 Charges applicable
In force	Regulation 87 Derogation for low-value payment instruments and electronic money
	Chapter 2 Authorisation of payment transactions (regs. 88-101)
In force	Regulation 88 Consent and withdrawal of consent
In force	Regulation 89 Confirmation on the availability of funds
In force	Regulation 90 Rules on access to payment account in the case of payment initiation services
In force	Regulation 91 Rules on access to and use of payment account information in the case of account information services
In force	Regulation 92 Limits of the use of the payment instrument and of the access to payment accounts by payment service providers
In force	Regulation 93 Obligations of the payment service user in relation to payment instruments and personalised security credentials
In force	Regulation 94 Obligations of the payment service provider in relation to payment instruments
In force	Regulation 95 Notification and rectification of unauthorised or incorrectly executed payment transactions
In force	Regulation 96 Evidence on authentication and execution of payment transactions
In force	Regulation 97 Payment service provider's liability for unauthorised payment transactions
In force	Regulation 98 Payer's liability for unauthorised payment transactions
In force	Regulation 99 Payment transactions where the transaction amount is not known in advance
In force	Regulation 100 Refunds for payment transactions initiated by or through a payee
In force	Regulation 101 Requests for refunds for payment transactions initiated by or through a payee
	Chapter 3 Execution of payment transactions (regs. 102-116)
In force	Regulation 102 Receipt of payment orders
In force	Regulation 103 Refusal of payment orders
In force	Regulation 104 Irrevocability of a payment order
In force	Regulation 105 Amounts transferred and amounts received
In force	Regulation 106 Scope of Regulations 107 to 110
In force	Regulation 107 Payment transactions to a payment account
In force	Regulation 108 Absence of payee's payment account with the payment service provider
In force	Regulation 109 Cash placed on a payment account
In force	Regulation 110 Value date and availability of funds
In force	Regulation 111 Incorrect unique identifiers
In force	Regulation 112 Payment service providers' liability for non-execution, defective or late execution of payment transactions
In force	Regulation 113 Liability in the case of payment initiation services for non-execution, defective or late execution of payment transactions
In force	Regulation 114 Additional financial compensation
In force	Regulation 115 Right of recourse
In force	Regulation 116 Abnormal and unforeseeable circumstances
	Chapter 4 Data protection (reg. 117)
In force	Regulation 117 Data protection
	Chapter 5 Operational and security risks and authentication (regs. 118-120)
In force	Regulation 118 Management of operational and security risks
In force	Regulation 119 Incident reporting
In force	Regulation 120 Authentication
	Chapter 6 Infringements, supervision, dispute resolution and enforcement (regs. 121-135)
In force	Regulation 121 Reporting of infringements
In force	Regulation 122 Supervision
In force	Regulation 123 Bank's power to give directions
In force	Regulation 124 Dispute resolution
In force	Regulation 125 Alternative dispute resolution procedures
In force	Regulation 126 Offence - operation as a payment institution without authorisation, etc.
In force	Regulation 127 Offence - false or misleading information in application
In force	Regulation 128 Offence - misappropriation of users' funds
In force	Regulation 129 Offence - failure to inform Bank of relevant changes, etc.
In force	Regulation 130 Offence - failure to keep appropriate records
In force	Regulation 131 Offence - provision of false or misleading information under Regulation 122(a)
In force	Regulation 132 Prosecution of offences
In force	Regulation 133 Publication of information
In force	Regulation 134 Penalties
In force	Regulation 135 Offences by bodies corporate and managers etc.
	Part 5 Consumer Rights Information (reg. 136)
In force	Regulation 136 Obligation to inform consumers of their rights
	Part 6 Final Provisions (regs. 137-145)
In force	Regulation 137 Derogation
In force	Regulation 138 Revocation
In force	Regulation 139 Saver
In force	Regulation 140 Transitional provisions
In force	Regulation 141 Amendment of European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004
In force	Regulation 142 Amendment of European Communities (Electronic Money) Regulations 2011
In force	Regulation 143 Amendment of European Union (Capital Requirements) Regulations 2014
In force	Regulation 144 Amendment of Act of 1942 - professional secrecy
In force	Regulation 145 Amendment of Act of 1942 - insertion of references
In force	Schedule - Payment Services
	Given under
	Explanatory Note

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