(1) In Article 1, for "Union" substitute "United Kingdom".

(2) Article 2 is amended as follows -

(a) in paragraph 1, for "Union" substitute "United Kingdom";

(b) in paragraph 2, for "points (a) to (m) and (o) of Article 3 of Directive 2007/64/EC" substitute "sub-paragraphs (a) to (m) and (o) of paragraph 2 of Schedule 1 to the Payment Services Regulations 2017 [Note: S.I. 2017/752.]";

(c) in paragraph 4(b), omit "within a Member State";

(d) omit paragraph 5.

(3) Article 3 is amended as follows -

(a) in point (1) (the definition of "terrorist financing"), for "Article 1(5) of Directive (EU) 2015/849" substitute "regulation 3(1) of the 2017 Regulations";

(b) for point (2) (the definition of "money laundering"), substitute -

"(2) "money laundering" has the meaning given by section 340(11) of the Proceeds of Crime Act 2002 [Note: 2002 c. 29.];";

(c) for point (5) (the definition of "payment service provider"), substitute -

"(5) "payment services provider" has the meaning given in regulation 2(1) of the Payment Services Regulations 2017;";