Regulation (EC) No 924/2009
I. General Information
Regulation (EC) No 924/2009 of the European Parliament and of the Council of 16 September 2009 on cross-border payments in the Community and repealing Regulation (EC) No 2560/2001
The Regulation (EC) No 924/2009 replacing Regulation (EC) No 2560/2001 of the European Parliament and the Council on cross-border payments in euro is the result of the review process that has been carried out by the Commission since 2005.
The aims of this initiative are to replace the existing Regulation in order to adapt it to market developments (emergence of the Single Euro Payments Area), to enhance the protection of consumer rights and to provide an adequate legal framework for the development of a modern and efficient payment system within the EU. It also seeks to align the definitions and wording of Regulation 2560/2001 with those of Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market.
The overall objective of the review of the Regulation is to achieve an Internal Market for payment services in euro, subject to effective competition and where there is no difference of regime between cross-border and national payments, thereby providing significant savings and benefits to the wider European economy.
|Regulation||(EC) No 924/2009|
|Source||O.J. EC No L (Legislation), Edition 266, Year 2009, p.11|
|Legal Basis||Art. 95 Abs. 1 EC|
|Legislative Procedure||Codecision procedure|
II. Versions and Legislative History
| (EU) No 260/2012|
|Regulation (EG) Nr. 924/2009 amended by|
Regulation (EU) No 260/2012 of the European Parliament and of the Council of 14 March 2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009 Text with EEA relevance
| (EC) No 924/2009
Original Text :
2. Legislative History
3. Legal Impact
|Repeal|| Regulation (EC) No 2560/2001|