1. This Regulation lays down rules on cross-border payments and on the transparency of currency conversion charges within the United Kingdom.

2. This Regulation shall apply to national and cross-border payments that are denominated in euro, sterling or in a national currency of a Member State of the European Union other than the euro and that involve a currency conversion service.

2A. In respect of cross-border payments, this Regulation applies only to those parts of a payment transaction which are carried out in the United Kingdom.

3. This Regulation shall not apply to payments made by payment service providers for their own account or on behalf of other payment service providers.

4. [deleted]