PART 5 U.K.Co-operation between regulators

Amendment of the 2013 Act U.K.

19.  In section 98 of the 2013 Act (duty of regulators to ensure co-ordinated exercise of functions)—

(a) in subsection (5)—

(i) in paragraph (a), after “this Part” insert “ or Part 2 of the Payment Card Interchange Fee Regulations 2015 ”;

(ii) in paragraph (c), after “(see section 1A(6) of that Act)” insert “ or Part 3 of the Payment Card Interchange Fee Regulations 2015 ”;

(b) in subsection (6)—

(i) in paragraph (a), after “payment systems objectives” insert “ and ensuring compliance with the interchange fee regulation (see Part 2 of the Payment Card Interchange Fee Regulations 2015) ”;

(ii) in paragraph (c), after “FSMA 2000” insert “ and ensuring compliance with Articles 8(2), (5) and (6), 9, 10(1) and (5), 11 and 12 of the interchange fee regulation (see Part 3 of the Payment Card Interchange Fee Regulations 2015) ”;

(c) after subsection (6) insert—

“(7) In subsection (6) “the interchange fee regulation” means Regulation (EU) 2015/751 of the European Parliament and of the Council of 29th April 2015 on interchange fees for card-based payment transactions.”.