13. In regulation 21(7) of the Electronic Money Regulations 2011 M1 (safeguarding option 1), in the definition of “authorised custodian”—
(a)for “Directive 2004/39/EC” substitute “ Directive 2014/65/EU ”;
(b)for “Article 13” substitute “ Article 16 ”.
Marginal Citations
M1S.I. 2011/99; there are amendments to regulation 21(7) but none is relevant.