85A.—(1) In this Part —

“BIC” has the same meaning as it has in point (16) of Article 2 of the SEPA Regulation;

“cross-border payment”  shall be construed in accordance with section 85B;

“‘home Member State” has the same meaning as it has in point (1) of Article 4 of the Payment Services Directive;

“IBAN” has the same meaning as it has in point (15) of Article 2 of the SEPA Regulation;

“payee” has the same meaning as it has in point (9) of Article 4 of the Payment Services Directive;

“payer” has the same meaning as it has in point (8) of Article 4 of the Payment Services Directive;

“payment account” has the same meaning as it has in point (15) of Article 2 of the SEPA Regulation;

“Payment Services Directive”means Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015³ on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC;

“payment service provider” means any of the categories of payment service providers listed in points (a) to (d) of Article 1(1) of the Payment Services Directive or a natural or legal person benefiting from an exemption in accordance with Article 32 of that Directive;

“payment service” means any of the business activities set out in points (3) to (6) of Annex I to the Payment Services Directive;

“payment” means, subject to the exclusions provided for in Article 3 of the Payment Services Directive, a "payment transaction" as defined in point (5) of Article 4 of that Directive or a "money remittance" as defined in point (22) of Article 4 of that Directive;

“SEPA Regulation” means Regulation (EU) No 260/2012 of the European Parliament and of the Council of 14 March 2012⁴ establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009, as amended by Regulation (EU) No 248/2014 of the European Parliament and of the Council of 26 February 2014⁵ .

(2) Other than a word or expression defined in subsection (1), a word or expression which is used in this Part and is also used in Section 2a of Chapter 4 of Title XI of the VAT Directive, has unless the context otherwise requires, the same meaning in this Part as it has in that Section of the VAT Directive.]