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FEES TP 12 Transitional provisions relating to direct payment service providers2

1(1)

(2)

Material to which the transitional provision applies

(3)

(4)

Transitional provision

(5)

Transitional provision: dates in force

(6)

Handbook provision: coming into force

12.1

FEES 9.2.2 R and FEES 9.2.3 R

R

[expired]3

2

3

3

2

212.2

FEES 9.2.2AR and FEES 9.2.3AR

R

[expired]3

3

3

212.3

FEES 9.2.2R

R

[expired]3

3

3

312.4

FEES 9.2.2R, FEES 9.2.2AR and FEES 9.2.2BR

R

Replace FEES 9.2.2R, FEES 9.2.2AR and FEES 9.2.2BR with the following:

“If the PSR fee paid by a direct payment service provider for the previous fee year for a particular regulated payment system was at least £20,000, that direct payment service provider must pay:

From 15 April 2016 until 29 February 2017

1 March 2017

(1)

an amount equal to 50% of the PSR fee payable for the previous fee year, by 15 April in the current fee year; and

(2)

the balance of the PSR fee due by 15 August in the current fee year.

The operator of each regulated payment system must pay the amounts collected (as collection agent for the FCA) under FEES 9.2.2R to the FCA by the following dates:

(a)

30 April in the current fee year; and

(b)

1 September in the current fee year.”