S.L. 376.4 ст. 8Liability of the subject person.

(1) A financial institution in receipt of funds belonging to payment service users or electronic money holders shall be liable for any loss or prejudice suffered by the payment service users or electronic money holders due to the financial institution’s fraud, wilful default, misconduct or negligence including the unjustifiable failure to perform in whole or in part the financial institution’s obligations arising under these regulations, the terms and conditions of the agreement entered into with the payment service users or electronic money holders, the conditions of any financial institutions licence or such other requirements as may be laid down by the competent authority.

(2) For the purposes of this regulation, "financial institution" includes such other financial institutions to whom functions or duties may be delegated or to whom funds are entrusted in terms of these regulations and any applicable Financial Institutions Rules issued under the Act.

9. Deleted by Legal Notice 67 of 2025.