Source: http://www.legislation.gov.uk/uksi/2015/2038
Timestamp: 2019-10-21 19:08:36
Document Index: 702712192

Matched Legal Cases: ['art 6', 'art 9', 'art 6', 'art 4', 'art 3', 'art 4', 'art 4']

The Payment Accounts Regulations 2015 is up to date with all changes known to be in force on or before 21 October 2019. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F2“Money and Pensions Service” means the body established under section 1 of the Financial Guidance and Claims Act 2018;]
“the Payment Accounts Directive” means Directive 2014/92/EU of the European Parliament and of the Council of 23rd July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features(6);
“Payment Services Regulations” means the Payment Services Regulations [F32017];
“Payment Systems Regulator” means the body established pursuant to section 39 of the Financial Services (Banking Reform) Act 2013(7);
F1Words in reg. 2(1) omitted (6.4.2019) by virtue of The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 27(a)(i)
F2Words in reg. 2(1) inserted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 27(a)(ii)
F3Word in reg. 2(1) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(a) (with reg. 3)
(a)[F4Part 6 (information requirements for payment services)] of the Payment Services Regulations;
(b)any rules made by the Authority under Part 9A(8) (rules and guidance) of the Act for the purposes of implementing Article 12 of Directive 2008/48/EC of the European Parliament and of the Council on credit agreements for consumers(9);
(c)regulations 3(10) (information to be disclosed: agreements other than telephone contracts, non-telephone distance contracts, excluded pawn agreements and overdraft agreements), 4 (information to be disclosed: telephone contracts), 5 (information to be disclosed: non-telephone distance contracts), 10(11) and 11(information to be disclosed: overdraft agreements) of the Consumer Credit (Disclosure of Information) Regulations 2010(12); and
(d)sections 55C(13) (copy of draft consumer credit agreement) and 61B(2)(14) (duty to supply copy of overdraft agreement) of the Consumer Credit Act 1974(15),
F4Words in reg. 8(1)(a) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(b) (with reg. 3)
10.—(1) Without affecting the requirements of [F5Part 6] of the Payment Services Regulations, the Consumer Credit (Running-Account Credit Information) Regulations 1983(16) and sections 78(4) (duty to give information to debtor under running-account credit agreement) and 78A(17) (duty to give information to debtor on change of rate of interest) of the Consumer Credit Act 1974, any payment service provider that offers a payment account must provide an annual statement of fees (“statement of fees”) free of charge to all consumers holding a payment account with it.
F5Words in reg. 10(1) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(c) (with reg. 3)
12.—(1) The [F6Money and Pensions Service] must provide consumers with access, free of charge, to a website comparing fees charged by payment service providers for at least the services featured in the linked services list (“the comparison website”).
(b)clearly disclose that it is owned by the [F6Money and Pensions Service];
F6Words in reg. 12 substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 27(b)
(c)without affecting the requirements of regulation 43(18) (termination of framework contract) of the Payment Service Regulations, close the payment account held by the consumer with the UK payment service provider.
(ii)asylum seekers within the meaning of section 94 of the Immigration and Asylum Act 1999(19) (interpretation); and
(a)would be contrary to the Fraud Act 2006(20)
(b)would be contrary to [F7the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017];
(c)would be contrary to section 40(21) of the Immigration Act 2014 (prohibition on opening current accounts for disqualified persons)(22);
(d)would breach a requirement or limitation imposed by the Authority on the designated credit institution under Part 4A(23) (permission to carry on regulated activities) of the Act that prevents it from accepting new customers.
(a)section 4(24), 4A(25) or 5(26) of the Public Order Act 1986(27);
(b)the Protection from Harassment Act 1997(28);
(c)section 38 of the Criminal Justice and Licensing (Scotland) Act 2010 (threatening or abusive behaviour)(29);
(d)Article 9 of the Public Order (Northern Ireland) Order 1987 (use of words or behaviour or display of written material)(30);
(e)the Protection from Harassment (Northern Ireland) Order 1997(31).
F7Words in reg. 25(1)(b) substituted (26.6.2017) by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692), reg. 1(2), Sch. 7 para. 33 (with regs. 8, 15)
[F8(g)the payment account is required to be closed in accordance with section 40G of the Immigration Act 2014.]
F8Reg. 26(2)(g) inserted (30.10.2017) by The Immigration Act 2016 (Consequential Amendments) Regulations 2017 (S.I. 2017/931), regs. 1, 2(2)
27.—(1) The [F9Money and Pensions Service] must endeavour to raise awareness among consumers about—
F9Words in reg. 27(1) substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 27(c)
(b)any person to whom a copy of the decision notice has been given under section 393(4)(32) (third party rights) of the Act (as applied by paragraph 4 of Schedule 7 to these Regulations).
(6) Subject to paragraph (7), sections 210(33) (statements of policy) and 211(34) (statements of policy: procedure) of the Act apply in respect of the imposition of penalties by the Authority under regulation 34 and regulation 35(4)(a) and the amount of such penalties as they apply in respect of the imposition of penalties under section 206(35) of the Act (financial penalties) and the amount of penalties under that section.
39.—(1) The functions of the Authority under these Regulations are to be treated for the purposes of paragraph 23(36) (fees) of Part 3 of Schedule 1ZA to the Act as functions conferred on the Authority under that Act.
41. The functions of the Authority under these Regulations are to be treated for the purposes of paragraph 25(37) (exemption from liability in damages) of Part 4 of Schedule 1ZA to the Act as functions conferred on the Authority under that Act.
(b)compliance by the [F10Money and Pensions Service] with the requirements of regulation 12;
F10Words in reg. 43(1)(b) substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 27(d)
(e)without affecting [F11regulation 51] (termination of a framework contract) of the Payment Services Regulations, close the payment account on the date specified in the authorisation if—
F11Words in Sch. 3 para. 4(1)(e) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(d)(i) (with reg. 3)
(c)where relevant, inform consumers of their rights pursuant to Article 5(3)(d) of Regulation (EU) 260/2012 of the European Parliament and of the Council of 14th March 2012 establishing technical and business requirements for credit transfers and direct debits in euro(38);
(3) Except where [F12regulation 71(2)] of the Payment Services Regulations applies, the transferring payment service provider must not block any payment instrument before the date specified in the consumer’s authorisation.
F12Words in Sch. 3 para. 5(3) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(d)(ii) (with reg. 3)
(3) Any fee payable by the consumer applied by the transferring payment service provider in respect of the termination of the framework contract for the payment account held with the transferring payment service provider must be determined in accordance with [F13regulation 51] (termination of framework contract) of the Payment Services Regulations.
F13Words in Sch. 3 para. 6(3) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(d)(iii) (with reg. 3)
(b)so as to prevent the award of damages made in respect of an act or omission on the ground that the act or omission was unlawful as a result of section 6(1) (acts of public authorities) of the Human Rights Act 1998(39).
(2) Any fee payable by the consumer applied by a participating payment service provider in respect of the termination of a framework contract for the payment account held with that participating payment service provider must be determined in accordance with [F14regulation 51] (termination of framework contract) of the Payment Services Regulations.
F14Words in Sch. 5 para. 3(2) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 25(e) (with reg. 3)
(2) When considering whether to give a designation notice to a credit institution, the Treasury may have regard to any information that the Authority has gathered in the course of the exercise of its functions under sections 234I(40) (the Authority’s functions under Part 4 of the Enterprise Act 2002) and 234J(41) (the Authority’s functions under the Competition Act 1998) of the Act.
1.—(1) Section 133(42) (proceedings before Tribunal: general provision) to section 133B(43) (offences) of the Act apply in respect of references and appeals made to the Tribunal under these Regulations as they apply in respect of references and appeals made to the Tribunal under the Act in respect of a decision of the FCA with the following modifications.
(3) Section 133A(44) (Proceedings before Tribunal: decision and supervisory notices, etc.) applies as if in subsection (1) “, as a result of section 388(2),” were omitted.
(2) Sections 165A to 165C(45), 169A(46) and 173 do not apply.
(5) Section 165(47) (Authority’s power to require information) applies as if in subsection (7) paragraphs (b), (c) and (d) were omitted.
(6) Section 166(48) (reports by skilled persons) applies as if subsections (10) and (11) were omitted.
(7) Section 166A(49) (appointment of skilled person to collect and update information) applies as if subsection (10) were omitted.
(8) Section 167(50) (appointment of persons to carry out general investigations) applies as if—
(9) Section 168(51) (appointment of persons to carry out investigations in particular cases) applies as if—
(10) Section 169(52) (investigations etc in support of overseas regulator) applies as if—
(11) Section 170(53) (investigations: general) applies as if—
(12) Section 171(54) (powers of persons appointed under section 167) applies as if subsections (3A) and (7) were omitted.
(14) Section 174(55) (admissibility of statements made to investigators) applies as if—
(15) Section 175(56) (information and documents: supplemental provisions) applies as if in subsection (8) “or (5)” were omitted.
(16) Section 176(57) (entry of premises under a warrant) applies as if—
3.—(1) Sections 348(58) (restrictions on disclosure of confidential information by FCA, PRA etc), 349(59) (exceptions from section 348) and 352 (offences) of the Act apply to information received in connection with the Authority’s functions under these Regulations as they apply in relation to information received in connection with the Authority’s functions under the Act with the following modifications.
(2) Section 391A(60) does not apply.
(3) Section 387(61) (warning notices) applies as if subsections (1A) and (3A) were omitted.
(4) Section 388(62) (decision notices) applies as if subsections (1A) and (2) were omitted.
(5) Section 390(63) (final notices) applies as if—
(6) Section 391(64) (publication) applies as if—
(7) Section 392(65) (application of sections 393 and 394) applies as if for paragraphs (a) and (b) there were substituted—
(8) Section 395(66) (the FCA’s and PRA’s procedures) applies as if—
5. Section 398(67) of the Act (misleading FCA or PRA: residual cases) applies in respect of requirements imposed by or under these Regulations, as it applies in respect of requirements imposed by or under the Act.
6. Section 401(68) of the Act (proceedings for offences) applies in respect of offences under these Regulations as it applies in respect of offences under the Act, but as if—
8. The Financial Services and Markets Act 2000 (Service of Notices) Regulations 2001(69) apply to any notice given by or to the Authority under these Regulations as they apply to relevant documents within the meaning of regulation 1(2)(70) of those Regulations with the following modifications—
9. The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001(71) apply with the following modifications—
(a)in regulation 2(72)—
(b)in regulation 8(73)—
(c)in regulation 11(74), after paragraph (g) insert—