The Cross-Border Payments in Euro Regulations 2010
These Regulations are made pursuant to the United Kingdom’s obligations under Articles 9, 10 and 13 of Regulation (EC) No. 924/2009 of the European Parliament and of the Council (OJ No L 266, 9.10.2009, p11) (referred to in the Regulations as the “Community Regulation”), laying down rules on cross-border payments in euro, to ensure that compliance with the Community Regulation is guaranteed by effective, proportionate and deterrent sanctions.