SCHEDULE 3Transitional Provisions

PART 1Transitional provisions relating to Electronic Money Regulations 2011

Interpretation1

In this Part of this Schedule—

a

“EMR 2011” means the Electronic Money Regulations 201113,

b

“the 2000 Act” means the Financial Services and Markets Act 200014,

c

“the FCA” means the Financial Conduct Authority, and

d

“EEA authorised electronic money institution”, “home state competent authority”, “passport right”, “the electronic money directive”, “the money laundering directive” and “the payment services directive” each has the meaning given by EMR 2011 as those Regulations have effect before the amendments made by Schedule 2.