Regulation 3(2)

Interpretation

13. In this Part of this Schedule -

(a) "PSR 2017" means the Payment Services Regulations 2017,

(b) "the 2000 Act" means the Financial Services and Markets Act 2000,

(c) "the FCA" means the Financial Conduct Authority, and

(d) "EEA authorised payment institution", "EEA registered account information service provider", "home state competent authority", "the money laundering directive", "passport right", and "the payment services directive" each has the meaning given by PSR 2017 as those Regulations have effect before the amendments made by Schedule 2.

Transitional authorisation for EEA authorised payment institution etc

14.

(1) This paragraph applies to a person who -

(a) immediately before IP completion day is entitled to provide payment services in the United Kingdom in the exercise of a passport right,

(b) would (apart from this Part of this Schedule) cease from IP completion day to be entitled to provide those services in the United Kingdom, and

(c) has notified the FCA in accordance with paragraph 15 that the person wishes this paragraph to apply in the person’s case.