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PART 5INFORMATION REQUIREMENTS FOR PAYMENT SERVICES

Common provisions

Currency and currency conversion

49.—(1) Payment transactions must be executed in the currency agreed between the parties.

(2) Where a currency conversion service is offered before the initiation of the payment transaction—

(a)at the point of sale; or

(b)by the payee,

the party offering the currency conversion service to the payer must disclose to the payer all charges as well as the exchange rate to be used for converting the payment transaction.