Section 63(10)

For the purposes of this regulation, “overseas authority” means— an authority responsible for any of the functions provided for in the funds transfer regulation in an EEA state ... in which the payment service provider is established or has its head office; and where the payment service provider is established or has its head office in another country which is not an EEA state, an authority in that country which has equivalent functions to any of the functions provided for in the funds transfer regulation.

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Source: legislation.gov.uk · retrieved 2026-09-04