- 1.Citation, commencement and extent
- 2.Interpretation
- 3.Exemption for certain bodies
- The register
- 4.The register of certain payment service providers
- 5.Application for authorisation as a payment institution or variation of an existing authorisation
- 6.Conditions for authorisation as a payment institution
- 7.Imposition of requirements
- 8.Variation etc. at request of authorised payment institution
- 9.Determination of application for authorisation or variation of authorisation
- 10.Cancellation of authorisation
- 11.Request for cancellation of authorisation
- 12.Variation of authorisation on FCA’s own initiative
- 13.Application for registration as a small payment institution or variation of an existing registration
- 14.Conditions for registration as a small payment institution
- 15.Supplementary provisions
- 16.Application for authorisation or registration if requirements cease to be met
- 17.Application for registration as an account information service provider or variation of an existing registration
- 18.Conditions for registration as an account information service provider
- 19.Supplementary provisions
- 20.Duty to notify changes
- 21.Authorised payment institutions, small payment institutions and registered account information service providers acting without permission
- 22.Capital requirements
- 23.Safeguarding requirements
- 24.Accounting and statutory audit
- 25.Outsourcing
- Exercise of passport rights
- 26.Application of regulations 27 to 30 to account information service providers
- 27.Notice of intention
- 28.Decision following notice of intention
- 29.Notice of intention from an EEA authorised payment institution
- 30.Supervision of firms exercising passport rights
- 31.Record keeping
- 32.Additional activities
- 33.Payment accounts and sums received for the execution of payment transactions
- 34.Use of agents
- 35.Removal of agent from register
- 36.Reliance
- 37.Duty to notify change in circumstance
- 38.Notification of use of limited network exclusion
- 39.Notification of use of electronic communications exclusion
- Application
- 40.Application of Part 6
- 41.Application of this Part in the case of consumer credit agreements
- 42.Disapplication of certain regulations in the case of low-value payment instruments
- 43.Information required prior to the conclusion of a single payment service contract
- 44.Information required after the initiation of a payment order
- 45.Information required after receipt of the payment order
- 46.Information for the payee after execution
- 47.Avoidance of duplication of information
- 48.Prior general information for framework contracts
- 49.Information during period of contract
- 50.Changes in contractual information
- 51.Termination of framework contract
- 52.Information prior to execution of individual payment transaction
- 53.Information for the payer on individual payment transactions
- 54.Information for the payee on individual payment transactions
- 55.Communication of information
- 56.Charges for information
- 57.Currency and currency conversion
- 58.Information on additional charges or reductions
- 59.Burden of proof on payment service provider
- 60.Information requirements for account information service providers
- 61.Information on ATM withdrawal charges
- 62.Provision of information leaflet
- Application
- 63.Application of Part 7
- 64.Application of this Part in the case of consumer credit agreements
- 65.Disapplication of certain regulations in the case of low value payment instruments
- 66.Charges
- 67.Consent and withdrawal of consent
- 68.Confirmation of availability of funds for card-based payment transactions
- 69.Access to payment accounts for payment initiation services
- 70.Access to payment accounts for account information services
- 71.Limits on the use of payment instruments and access to payment accounts
- 72.Obligations of the payment service user in relation to payment instruments and personalised security credentials
- 73.Obligations of the payment service provider in relation to payment instruments
- 74.Notification and rectification of unauthorised or incorrectly executed payment transactions
- 75.Evidence on authentication and execution of payment transactions
- 76.Payment service provider’s liability for unauthorised payment transactions
- 77.Payer or payee’s liability for unauthorised payment transactions
- 78.Payment transactions where the transaction amount is not known in advance
- 79.Refunds for payment transactions initiated by or through a payee
- 80.Requests for refunds for payment transactions initiated by or through a payee
- 81.Receipt of payment orders
- 82.Refusal of payment orders
- 83.Revocation of a payment order
- 84.Amounts transferred and amounts received
- 85.Application of regulations 86 to 88
- 86.Payment transactions to a payment account
- 87.Absence of payee’s payment account with the payment service provider
- 88.Cash placed on a payment account
- 89.Value date and availability of funds
- 90.Incorrect unique identifiers
- 91.Non-execution or defective or late execution of payment transactions initiated by the payer
- 92.Non-execution or defective or late execution of payment transactions initiated by the payee
- 93.Non-execution or defective or late execution of payment transactions initiated through a payment initiation service
- 94.Liability of payment service provider for charges and interest
- 95.Right of recourse
- 96.Force majeure
- 97.Consent for use of personal data
- 98.Management of operational and security risks
- 99.Incident reporting
- 100.Authentication
- 101.Dispute resolution
- 102.Application of regulation 103
- 103.Prohibition on restrictive rules on access to payment systems
- 104.Indirect access to designated systems
- 105.Access to bank accounts
- 106.Functions of the FCA
- 107.Application of this Part to requirements of directly applicable EU regulations and FCA rules
- Supervision and enforcement
- 108.Monitoring and enforcement
- 109.Reporting requirements
- 110.Public censure
- 111.Financial penalties
- 112.Proposal to take disciplinary measures
- 113.Injunctions
- 114.Power of FCA to require restitution
- 115.Proposal to require restitution
- 116.Restitution orders
- 117.Complaints
- 118.Costs of supervision
- 119.Credit agreements
- 120.Guidance
- 121.FCA’s exemption from liability in damages
- 122.Application and modification of primary and secondary legislation
- 123.Interpretation of Part 10
- 124.Functions of the Payment Systems Regulator
- 125.Directions
- 126.Publication of compliance failures and penalties
- 127.Penalties
- 128.Notice of publication of a compliance failure or of imposition of a penalty
- 129.Injunctions
- 130.Appeals: general
- 131.Appeals against directions and publication of compliance failures
- 132.Appeals in relation to penalties
- 133.Complaints
- 134.Guidance
- 135.Information and investigation
- 136.Application of other provisions of the 2013 Act
- Contracting out of statutory requirements
- 137.Prohibition on contracting out of statutory requirement
- 138.Prohibition on provision of payment services by persons other than payment service providers
- 139.False claims to be a payment service provider or exempt
- 140.Defences
- 141.Contravention of regulations 57 and 58
- 142.Misleading the FCA or the Payment Systems Regulator
- 143.Restriction on penalties
- 144.Liability of officers of bodies corporate etc
- 145.Prosecution of offences
- 146.Proceedings against unincorporated bodies
- 147.Duty to co-operate and exchange of information
- 148.Actions for breach of requirements
- 149.Saving of Payment Services Regulations 2009
- 150.Transitional and saving provisions: authorised payment institutions
- 151.Transitional and saving provisions: small payment institutions
- 152.Transitional provisions: payments through network operators
- 153.Transitional and saving provisions: general
- 154.Transitional provisions: account information services and payment initiation services
- 155.Application to Gibraltar
- 156.Amendments to primary and secondary legislation
- 157.Revocations
- 158.Review
- SCHEDULE 1Payment Services
- PART 1 Payment services
- 1.Subject to Part 2, the following, when carried out as.
- 2.The following do not constitute payment services—
- 1.A programme of operations setting out, in particular, the type.
- 2.A business plan including a forecast budget calculation for the.
- 3.Evidence that the applicant holds initial capital for the purposes.
- 4.Where regulation 23 (safeguarding requirements) applies, a description of the.
- 5.A description of the applicant’s governance arrangements and internal control.
- 6.A description of the applicant’s procedure for monitoring, handling and.
- 7.A description of the applicant’s process for filing, monitoring, tracking.
- 8.A description of the applicant’s business continuity arrangements, including a.
- 9.A description of the principles and definitions used by the.
- 10.A statement of the applicant’s security policy, including—
- 11.For an applicant subject to the obligations in relation to.
- 12.A description of the applicant’s structural organisation, including, where applicable.
- 13.In relation to each person holding, directly or indirectly, a.
- 14.(1) The identity of directors and persons who are or.
- 15.The identity of the auditors of the applicant, if any.
- 16.(1) The legal status of the applicant and, where the.
- 17.The address of the head office of the applicant.
- 18.For the purposes of paragraphs 4, 5, 6 and 12.
- 19.In the case of an applicant which proposes to provide.
- PART 1 Initial capital
- 1.For the purposes of this Part, “initial capital” comprises one.
- 2.(1) The amount of initial capital referred to in regulations.
- Own funds requirement
- 3.The amount of own funds referred to in regulation 22(1)(b).
- 4.The FCA may direct that an authorised payment institution must.
- 5.A direction made under paragraph 4 must be on the.
- 6.The FCA may make a reasonable charge for making an.
- 7.If an authorised payment institution has not completed a full.
- 8.(1) “Method A” means the calculation method set out in.
- 9.(1) “Method B” means the calculation method set out in.
- 10.(1) “Method C” means the calculation method set out in.
- 11.Except where this Schedule provides for a different method of.
- 1.The following information about the payment service provider—
- 2.The following information about the payment service—
- 3.The following information about charges, interest and exchange rates—
- 4.The following information about communication— (a) the means of communication.
- 5.The following information about safeguards and corrective measures—
- 6.The following information about changes to and termination of the.
- 7.The following information about redress— (a) any contractual clause on—.
- PART 1 Prohibitions and restrictions
- 1.Power to prohibit the entry into credit agreements
- 2.Power to restrict the entry into credit agreements and to withdraw or vary a restriction
- 3.Interpretation
- 4.Notice of prohibition or restriction
- 5.Application to withdraw or vary prohibition or restriction
- 6.Notice to the home state competent authority
- PART 1 Application and modification of the 2000 Act
- 1.Disciplinary powers
- 2.The Upper Tribunal
- 3.FCA rules
- 4.Information gathering and investigations
- 5.Control over payment institutions
- 6.Incoming firms: interventions by the FCA
- 7.Auditors and actuaries
- 8.Restriction on disclosure of information
- 9.Insolvency
- 10.Warning notices and decision notices
- 11.Limitation on power to require documents
- 12.The Financial Services and Markets Act 2000 (Service of Notices) Regulations 2001
- 13.The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001
- 1.Exercise of deemed passport rights by Gibraltar-based firms
- 2.Exercise by authorised payment institutions of deemed passport rights in Gibraltar
- 3.Modification of legislation
- PART 1 Amendments to primary legislation
- 1.Consumer Credit Act 1974
- 2.Financial Services and Markets Act 2000
- 3.Enterprise Act 2002
- 4.Financial Services (Banking Reform) Act 2013
- 5.Electronic Money Regulations 2011
- 6.Rehabilitation of Offenders Act 1974 (Exceptions) Order 1975
- 7.Individual Savings Account Regulations 1998
- 8.Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
- 9.Child Trust Funds Regulations 2004
- 10.Financial Services (Distance Marketing) Regulations 2004
- 11.Investment Bank Special Administration Regulations 2011
- 12.Consumer Rights (Payment Surcharges) Regulations 2012
- 13.Postal Services Act 2011 (Disclosure of Information) Order 2012
- 14.Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012
- 15.Payment to Treasury of Penalties (Enforcement Costs) Order 2013
- 16.Financial Services Act 2012 (Relevant Functions in relation to Complaints Scheme) Order 2014
- 17.Communications Act 2003 (Disclosure of Information) Order 2014
- 18.Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014
- 19.Public Interest Disclosure (Prescribed Persons) Order 2014
- 20.Enterprise Act 2002 (Part 8 EU Infringements) Order 2014
- 21.Payment to Treasury of Penalties (Enforcement Costs of the Payment Systems Regulator) Order 2015
- 22.Mortgage Credit Directive Order 2015
- 23.Small and Medium Sized Business (Credit Information) Regulations 2015
- 24.Small and Medium Sized Business (Finance Platforms) Regulations 2015
- 25.Payment Accounts Regulations 2015
- 26.Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
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- PART 1 Payment services