22. — (1) The Minister may make regulations providing for the regulation of cross-border credit transfers and, without prejudice to the generality of the foregoing, the regulations may provide, in respect of such credit transfers, for all or any of the following:

(a) transparency;

(b) periods of time within which establishments may be bound to make a payment;

(c) an obligation to execute transfers in accordance with instructions in payment orders, including instructions as regards allocation of costs;

(d) an obligation, in the event of non-execution of transfers, to refund an amount up to and including the full amount, interest and charges;

(e) dispute resolution procedures.

(2) In this section—

“cross-border credit transfer” means a transaction carried out on the initiative of an originator via an institution or its branch in one Member State of the European Union, with a view to making available an amount of money to a beneficiary at an institution or its branch in another Member State;

“transparency” means the making available to actual and prospective customers in writing, including where appropriate by electronic means, in a readily comprehensible form, information on conditions for cross-border credit transfers.