European Union (Interchange Fees for Card-based Payment Transactions) (Amendment) Regulations 2016.

JurisdictionIreland
CitationIR SI 292/2016

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 10th June, 2016.

I, MICHAEL NOONAN, Minister for Finance, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving full effect to Regulation (EU) No. 751/2015 of the European Parliament and of the Council of 29 April 20151 , hereby make the following regulations:

Citation and commencement

1. (1) These Regulations may be cited as the European Union (Interchange Fees for Card-based Payment Transactions) (Amendment) Regulations 2016.

(2) These Regulations shall come into operation on 9 June 2016.

Definition

2. In these Regulations, “Principal Regulations” means the European Union (Interchange Fees for Card-based Payment Transactions) Regulations 2015 ( S.I. No. 550 of 2015 ).

Amendment of Regulation 2 of the Principal Regulations

3. Regulation 2(1) of the Principal Regulations is amended—

(a) in the definition of “microenterprise”, by substituting “paragraph (2);” for “paragraph (2).”, and

(b) by inserting the following after the definition of “microenterprise”:

“ ‘trader’ means—

(a) a person who is acting for purposes related to the person’s trade, business or profession, and

(b) a person acting on behalf of a person referred to in paragraph (a) of this definition.”.

Amendment of Regulation 6 of the Principal Regulations

4. The Principal Regulations are amended by substituting the following for Regulation 6:

Competent authority for purposes of Interchange Regulation and these Regulations

“6.(1) Subject to paragraph (2), the Bank is the competent authority in the State for the purposes of the Interchange Regulation and these Regulations.

(2) As respects each of the following cases, namely—

(a) a case under the second sentence of Article 8(6) of the Interchange Regulation where the payee is a trader and a payer is a consumer, and

(b) a case under Article 10(4) of that Regulation where the payee is a trader and the payer is a consumer,

the Competition and Consumer Protection Commission is the competent authority in the State—

(i) for the purposes of the Interchange Regulation, and

(ii) for the purposes of these Regulations

so far as it relates (or they relate) to the second sentence of that Article 8(6) or to that Article 10(4).

(3) Save as provided for in paragraph (4), the Bank shall monitor compliance with the Interchange Regulation...

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