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Payment Services Directive – National legislation Ireland and UK
03 March 2009
The governments of the various SEPA countries have committed to transposing the Payment Services Directive into national legislation by Nov 1st at the latest. The Irish government has indicated that the process will be completed in the second quarter of 2009.
While drafts Irish legislation of the proposed Irish legislation are in circulation, no draft has been posted on any government Irish website. The legislation will be enacted by way of a ministerial order of the Minister for Finance, rather than by an Act of the Dáil.
By contrast, the draft UK legislation has been published, and was laid before Parliament in Feb 2009. It will become law from March 2nd. Details, together with guidance material from the FSA can be found at:-
http://www.fsa.gov.uk/Pages/About/What/International/psd/index.shtml