Powers exercised

A. The Financial Conduct Authority ("the FCA") makes this instrument in the exercise of the powers and related provisions in or under:

(1) the following Regulations of the Payment Services Regulations as amended by the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 which comes into force on IP completion day as defined by the European Union (Withdrawal Agreement) Act 2020:

(a) Regulation 106A (Technical Standards); and

(b) Regulation 120 (Guidance); and

(2) the following sections of the Financial Services and Markets Act 2000 ("the Act") as amended by the Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018:

(a) section 138P (Technical Standards);

(b) section 138Q (Standards instruments);

(c) section 138S (Application of Chapters 1 and 2);