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The Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018

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This is the original version (as it was originally made).

Amendments of the Payment Card Interchange Fee Regulations 2015

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11.—(1) The Payment Card Interchange Fee Regulations 2015 are amended as follows.

(2) In regulation 3—

(a)in paragraph (2)—

(i)for sub-paragraph (a), substitute—

“(a)determine whether regulated persons comply in the United Kingdom with obligations, prohibitions and restrictions imposed on them by—

(i)the interchange fee regulation, read together with regulations 22 (weighted average interchange fees for domestic debit card transactions) and 23 (exemption from maximum interchange fees for certain three party payment card schemes); or

(ii)a technical standard made under section 97A of the 2013 Act”;

(b)in paragraph (5)—

(i)at the end of sub-paragraph (a), omit “and”;

(ii)at the end of sub-paragraph (b), insert—

“(c)the function of making technical standards under section 97A of the 2013 Act; and

(d)the function of making EU Exit instruments under the Financial Regulators’ Powers (Technical Standards) (Amendment etc.) (EU Exit) Regulations 2018.”

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