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Amendment of section 115 of Principal Act (penalties generally)
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76. Section 115(1C) of the Principal Act is amended, with effect from 1 January 2026—
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(a) in paragraph (b)—
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(i) by the substitution of “section 85C” for “section 85C, 85F or 85G, as the case may be,” and
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(ii) by the substitution of “that section” for “the section concerned”,
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and
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(b) by the insertion of the following paragraph after paragraph (c):
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“(d) (i) A payment service provider who does not comply with section 85F(2) shall be liable to a penalty of €4,000.
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(ii) A payment service provider who fails to provide the information contained in the records referred to in section 85F(2) in respect of the calendar quarter to which that information relates (in this subparagraph referred to as the ‘first-mentioned calendar quarter’), in the manner specified in section 85G(a), by the end of the month following each calendar quarter subsequent to the first-mentioned calendar quarter, shall be liable to a further penalty of €4,000 in respect of such failure in respect of each such subsequent calendar quarter after the first-mentioned calendar quarter until the payment service provider provides the information concerned in the manner so specified.”.
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