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ZAG-EN

Payment Services Supervision Act
ZAG-EN · official text on eucite.com in-house translation

🇩🇪 Auf Deutsch lesen (original text)

This English text is a careful, terminology-researched translation prepared by eucite.com — not an official government translation. The German original linked above is the legally authoritative text.

Sections

Part 1 General Provisions

Chapter 1 Definitions, Scope of Application, Supervision

• Section 1 — Definitions
• Section 1a — Unreliability of Sanctioned Persons
• Section 2 — Exceptions; Authorisation to Issue Statutory Instruments
• Section 3 — Activities Permitted to Institutions and Prohibited Business
• Section 4 — Tasks and General Powers of BaFin; Decision in Cases of Doubt
• Section 4a — Electronic Notification or Service of Administrative Acts; Authorisation to Issue Statutory Instruments
• Section 4b — Special Powers under Regulation (EU) 2022/2554
• Section 5 — Cooperation with Other Authorities
• Section 6 — Duty of Confidentiality

Chapter 2 Enforcement of the Licensing Requirement

• Section 7 — Intervention against Unauthorised Payment Services and E-Money Business
• Section 8 — Investigation of Unauthorised Payment Services and E-Money Business

Chapter 3 Immediate Enforceability

• Section 9 — Immediate Enforceability

Part 2 Licence; Holders of Significant Holdings

Chapter 1 Licence

• Section 10 — Licence for Providing Payment Services; Authorisation to Issue Statutory Instruments
• Section 11 — Licence for Carrying on the E-Money Business; Authorisation to Issue Statutory Instruments
• Section 12 — Refusal of the Licence
• Section 13 — Lapse and Revocation of the Licence

Chapter 2 Holders of Significant Holdings

• Section 14 — Holders of Significant Holdings; Authorisation to Issue Statutory Instruments

Part 3 Own Funds; Safeguarding of Professional Liability

• Section 15 — Own Funds; Authorisation to Issue Statutory Instruments
• Section 16 — Safeguarding of Professional Liability for Payment Initiation Services; Authorisation to Issue Statutory Instruments

Part 4 Safeguarding Requirements

• Section 17 — Safeguarding Requirements for the Receipt of Funds in Connection with the Provision of Payment Services and the Carrying-on of the E-Money Business
• Section 18 — Safeguarding Requirements for the Receipt of Funds for the Issuance of E-Money

Part 5 Provisions on the Ongoing Supervision of Institutions

• Section 19 — Information and Examinations
• Section 20 — Removal of Managers and Members of the Administrative and Supervisory Body, Transfer of the Powers of Governing Bodies to Special Commissioners
• Section 21 — Measures in Special Cases and Application for Insolvency
• Section 22 — Submission of Annual Financial Statements, Management Report and Audit Reports
• Section 23 — Duty to Notify the Appointment of the Auditor, Appointment in Special Cases
• Section 24 — Special Duties of the Auditor; Authorisation to Issue Statutory Instruments
• Section 25 — Use of Agents; Authorisation to Issue Statutory Instruments
• Section 26 — Outsourcing
• Section 27 — Organisational Duties
• Section 28 — Notifications; Authorisation to Issue Statutory Instruments
• Section 29 — Monthly Returns; Authorisation to Issue Statutory Instruments
• Section 30 — Retention of Documents

Part 6 Special Provisions for the E-Money Business and its Distribution and Redeemability

• Section 31 — Prohibition of the Issuance of E-Money through Other Persons
• Section 32 — Distribution and Redemption of E-Money through E-Money Agents
• Section 33 — Obligations of the E-Money Issuer upon the Issuance and Redemption of E-Money

Part 7 Special Provisions for Account Information Services

• Section 34 — Duty to Register; Authorisation to Issue Statutory Instruments
• Section 35 — Refusal of Registration
• Section 36 — Safeguarding of Professional Liability; Authorisation to Issue Statutory Instruments
• Section 37 — Lapse and Revocation of Registration

Part 8 European Passport, Branches and the Cross-Border Provision of Services, Branches of Third-Country Undertakings

• Section 38 — Establishing a Branch, Cross-Border Provision of Services by Domestic Institutions
• Section 39 — Establishing a Branch, Cross-Border Provision of Services by Undertakings with their Registered Office in Another State of the European Economic Area
• Section 40 — Duty to Report
• Section 41 — Central Contact Person; Authorisation to Issue Statutory Instruments
• Section 42 — Branches of Undertakings with their Registered Office Outside the European Economic Area

Part 9 Registers

• Section 43 — Payment Institution Register
• Section 44 — E-Money Institution Register

Part 10 Common Provisions for All Payment Service Providers

Chapter 1 Card-Based Payment Instruments

• Section 45 — Duties of the Account Servicing Payment Service Provider
• Section 46 — Rights and Duties of the Card-Issuing Payment Service Provider
• Section 47 — Exception for E-Money Instruments

Chapter 2 Access of Payment Initiation Service Providers and Account Information Service Providers to Payment Accounts

• Section 48 — Duties of the Account Servicing Payment Service Provider in relation to Payment Initiation Services
• Section 49 — Duties of the Payment Initiation Service Provider
• Section 50 — Duties of the Account Servicing Payment Service Provider in relation to Account Information Services
• Section 51 — Duties of the Account Information Service Provider
• Section 52 — Access to Payment Accounts

Chapter 3 Risks and Reporting of Incidents

• Section 53 — Management of Operational and Security Risks
• Section 54 — Reporting of Major Operational or Security Incidents

Chapter 4 Strong Customer Authentication

• Section 55 — Strong Customer Authentication

Chapter 5 Access to Accounts and Payment Systems

• Section 56 — Access to Payment Account Services at CRR Credit Institutions
• Section 57 — Access to Payment Systems
• Section 57a — Conditions for Applying for Participation in Designated Payment Systems; Authorisation to Issue Statutory Instruments
• Section 58 — Tasks of BaFin in relation to Card Payment Schemes, Exemptions for New Payment Methods in Mass Payments; Authorisation to Issue Statutory Instruments

Chapter 5a Technical Infrastructure Services

• Section 58a — Access to Technical Infrastructure Services in the Provision of Payment Services or the Carrying-on of the E-Money Business

Part 11 Data Protection

• Section 59 — Data Protection

Part 12 Complaints; Out-of-Court Dispute Resolution and Collective Consumer Information

• Section 60 — Complaints against Payment Service Providers
• Section 61 — Complaints against E-Money Issuers
• Section 62 — Complaints Procedure at a Payment Service Provider
• Section 62a — Collective Consumer Information

Part 13 Criminal Provisions, Provisions on Regulatory Fines

• Section 63 — Criminal Provisions
• Section 64 — Provisions on Regulatory Fines
• Section 65 — Communication in Criminal Matters
• Section 65a — Publication of Sanctions for Breaches of Regulation (EU) 2022/2554

Part 14 Transitional Provisions

• Section 66 — Transitional Provisions for Payment Institutions Already Holding a Licence
• Section 67 — Transitional Provisions for E-Money Institutions Already Holding a Licence
• Section 68 — Transitional Provisions for Certain Payment Services and for Strong Customer Authentication
• Section 69 — Transitional Provision on the Financial Market Digitalisation Act