European Union
European Union (Payment Services) Regulations 2018 (S.I. No. 6 of 2018) · st:ie-psr2018
Primary text ↗Verified
Dates
no data
In force from
Key provisions
4 in the graphThe article’s own text, quoted verbatim from the primary source below — a citable fact, not a summary. No plain-English explanation is shown: writing one would be legal analysis nobody sourced (docs/RULES.md R1). That register is reserved should sourced explanations be added later, and will never share this card’s styling.
Regulation 8 (Initial capital)
prov:ie-psr2018-reg8
ARTICLE TEXT — VERBATIM, TIER B
The Bank shall not authorise an applicant as a payment institution unless the applicant holds initial capital of at least— source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Backs requirement minimumCapital
Regulation 17(1)–(2) (Safeguarding requirements)
prov:ie-psr2018-reg17
ARTICLE TEXT — VERBATIM, TIER B
A payment institution that provides payment services referred to in paragraphs 1 to 6 of the Schedule shall safeguard user’s funds in either of the following ways: source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Backs requirement safeguardingRequired
Regulation 23(1) (Communication of decision)
prov:ie-psr2018-reg23
ARTICLE TEXT — VERBATIM, TIER B
the Bank shall inform the applicant whether the authorisation has been granted or refused. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Regulation 30(1)–(3) (Use of agents, branches or entities to which activities are outsourced)
prov:ie-psr2018-reg30
ARTICLE TEXT — VERBATIM, TIER B
An agent shall not commence provision of payment services prior to the entry of its details in the Register. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
National regimes implementing it
1 regimesOne statute, implemented differently by each regime below — the same directive granting different activities, client types and capital figures market by market.
WhereAuthorityRegimeCapital · transitionFirms
IECentral Bank of IrelandPayment Institution / IrelandPlace cash on a payment account, Cash withdrawal from a payment account +6EUR 125,000 source3 months source0
Sources
Regulation 8 (Initial capital) · Regulation 17(1)–(2) (Safeguarding requirements) · Regulation 23(1) (Communication of decision) · Regulation 30(1)–(3) (Use of agents, branches or entities to which activities are outsourced)European Union (Payment Services) Regulations 2018 (S.I. No. 6 of 2018)https://www.irishstatutebook.ie/eli/2018/si/6/made/en/print
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