(1) Where a payment order is initiated directly by a payer, the payer’s payment service provider shall, without prejudice to Regulations 95, 111(2), (3) and (4), and 116, be liable to the payer for correct execution of the payment transaction, unless the payer’s payment service provider can prove to the payer and, where relevant, to the payee’s payment service provider that the payee’s payment service provider received the amount of the payment transaction in accordance with Regulation 107(1) and (2).
(2) Where, in accordance with paragraph (1), the payer’s payment service provider can prove to the payer and, where relevant, to the payee’s payment service provider that the payee’s payment service provider received the amount of the payment transaction in accordance with Regulation 107(1) and (2), the payee’s payment service provider shall be liable to the payee for the correct execution of the payment transaction.
(3) Where a payer’s payment service provider is liable
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