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The Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012

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Information gathering and investigations

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2.  Part 11 of the 2000 Act (information gathering and investigations) applies with the following modifications—

(a)in section 165 (Authority’s power to require information: authorised persons etc)—

(i)for references to “an authorised person” substitute “a payment service provider”;

(ii)in subsection (4), for “this Act” substitute “the Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012”;

(iii)in subsection (7) omit paragraphs (b) and (c); and

(iv)for subsection (8), substitute—

(8) “Payment service provider” has the meaning given by regulation 2 of the Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012.;

(b)omit section 165A (Authority’s power to require information: financial stability), 165B (safeguards etc in relation to exercise of power under section 165A) and 165C (orders under section 165A(2)(d));

(c)in section 166 (reports by skilled persons)—

(i)in subsection (2)(a), for “an authorised person” substitute “a payment service provider”; and

(ii)after subsection (6), insert—

(7) “Payment service provider” has the meaning given by regulation 2 of the Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012.;

(d)omit section 167 (appointment of persons to carry out general investigations);

(e)in section 168 (appointment of persons to carry out investigations in particular cases)—

(i)in subsection (1)—

(aa)for paragraph (a) substitute—

(a)a payment service provider may have contravened any requirement imposed by either—

(i)Regulation (EC) No 924/2009 of the European Parliament and of the Council on cross-border payments in the Community and repealing Regulation (EC) No 2560/2001; or

(ii)Regulation (EU) No 260/2012 of the European Parliament and Council establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009;;

(bb)in paragraph (b) omit from “191” to the end;

(ii)omit subsections (2), (4) and (5); and

(iii)in subsection (6) omit “or the Secretary of State”;

(f)omit section 169 (investigations etc in support of overseas regulator) and section 169A (support of overseas regulator with respect to financial stability);

(g)in section 170 (investigations: general)—

(i)in subsection (1) for “section 167 or 168(3) or (5)” substitute “section 168(3)”;

(ii)in subsection (3)(a) omit “or (4)”;

(iii)omit subsection (3)(b); and

(iv)for subsection (10) substitute—

(10) “Investigating authority”, in relation to an investigator, means the Authority.;

(h)omit section 171 (powers of persons appointed under section 167);

(i)in the heading and subsection (4) of section 172 (additional power of persons appointed as a result of section 168(1) or (4)), omit “or (4)”;

(j)omit section 173 (powers of persons appointed as a result of section 168(2));

(k)in section 174 (admissibility of statements made to investigators)—

(i)in subsection (2) omit “or in proceedings in relation to action to be taken against that person under section 123”;

(ii)in subsection (3)(a) omit “or 398”;

(iii)in subsection (4), for “section 167 or 168(3) or (5)” substitute “section 168(3)”;

(iv)in subsection (5) for “section 171, 172, 173 or 175” substitute “section 172 or 175”;

(l)in subsection (8) of section 175 (information and documents: supplemental provisions) for “section 167 or 168(3) or (5)” substitute “section 168(3)”;

(m)in section 176 (entry of premises under warrant)—

(i)in subsection (1)—

(aa)omit “the Secretary of State,”; and

(bb)for “the first, second or third” substitute “the first or second”;

(ii)in subsection (3)(a) for “an authorised person or an appointed representative” substitute “a payment service provider”;

(iii)omit subsection (4);

(iv)in subsection (10) for “section 167 or 168(3) or (5)” substitute “section 168(3)”;

(v)in subsection (11)(a) omit “87C, 87J,” and “,165A,169A”;

(vi)in subsection (11)(b) for “section 171, 172, 173 or 175” substitute “section 172 or 175”; and

(n)in subsection (5)(a) of section 177 (offences), for “six months” substitute “three months”.

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