(1) The European Union (Credit Institutions: Financial Statements) Regulations 2015 (S.I. No. 266 of 2015) and Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 [OJ. No. L 243, 11.9.2002, p.1.] shall apply to a payment institution, subject to the modification that a reference in the European Union (Credit Institutions: Financial Statements) Regulations 2015 to a credit institution shall be construed as a reference to a payment institution.
(2) Part 6 of the Companies Act 2014 (No. 38 of 2014) shall apply mutatis mutandis to a payment institution to which that Act does not otherwise apply.
(3) Unless exempted under the Companies Act 2014 (including as applied in accordance with paragraph (2)) and, where applicable, the European Union (Credit Institutions: Financial Statements) Regulations 2015, the annual accounts and consolidated accounts of a payment institution shall be audited by a statutory auditor or audit firm within the meaning of the Eur
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