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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

payee

      1. (1) (for the purposes of FEES 9) a person who is the intended recipient of transferred funds ; and159
      1. (2) (for purposes other than FEES 9) a person who is the intended recipient of funds which have been the subject of a payment transaction.159