Amendment to the Transfer of Funds (Information on the Payer) Regulations 2007: decisions to impose penalties on payment service providers12

In regulation 12F of the Transfer of Funds (Information on the Payer) Regulations 200722 (bringing of appeals against decisions of the Commissioners), for paragraph (4) substitute—

4

In a case where the Commissioners are requested to undertake a review in accordance with regulation 12D23

a

an appeal may not be made—

i

unless the Commissioners have notified P as to whether or not a review will be undertaken, and

ii

if the Commissioners have notified P that a review will be undertaken, until the conclusion date;

b

any appeal where sub-paragraph (a)(ii) applies is to be made within the period of 30 days beginning with the conclusion date;

c

if the Commissioners have notified P that a review will not be undertaken, an appeal may be made only if the tribunal gives permission to do so.