FEES TP 12 Transitional provisions relating to direct payment service providers2

12.1

FEES 9.2.2 R and FEES 9.2.3 R

R

Replace the current FEES 9.2.2 R and FEES 9.2.3 R with the following:

“A direct payment service provider, acquirer or card issuer2 must pay its PSR fee in full to the operator (acting as collection agent for the FCA) of the regulated payment system to which the PSR fee relates by no later than 10 December 20152.

”

From 1 April 2015 until 31 March 2016

27 October 20152

212.2

FEES 9.2.2AR and FEES 9.2.3AR

R

Replace the current FEES 9.2.2AR and FEES 9.2.3R with the following:

“The operator of each regulated payment system must pay the amounts collected in respect of PSR fees (acting as collection agent for the FCA) pursuant to FEES 9.2.4AR to the FCA by no later than 21 December 2015.”

From 1 April 2015 until 31 March 2016

27 October 2015

212.3

FEES 9.2.2R

R

Replace the current FEES 9.2.2R with the following:

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

From 1 April 2016 until 31 March 2017

27 October 2015

(1)

an amount equal to 30% of the PSR fee payable for the 2015/16 fee year, by 15 April 2016; and

(2)

the balance of the PSR fee due for 2016/17 by 15 August 2016.”