Payment Services (Amendment) Act 2021 (Saving and Transitional Provisions) Regulations 2024

The regulator issued the Payment Services (Amendment) Act 2021 (Saving and Transitional Provisions) Regulations 2024 to establish exemptions applicable during specific transitional periods following the commencement of the Payment Services Act. These regulations specifically apply to Standard Payment Institutions and Major Payment Institutions, allowing them to operate under defined transitional arrangements. The document serves to clarify the regulatory framework and obligations for these entities during the transition from the previous regime to the new Act.