PART II ELECTRONIC MONEY
Amendments of the principal Order
Definition of “electronic money”2
In article 3(1) of the principal Order (interpretation), after the definition of “deposit” insert—
“electronic money” means monetary value, as represented by a claim on the issuer, which is—
a
stored on an electronic device;
b
issued on receipt of funds; and
c
accepted as a means of payment by persons other than the issuer;