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The Electronic Money Regulations 2011

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Changes over time for: Section 4

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Version Superseded: 31/12/2020

Status:

Point in time view as at 13/01/2018. This version of this provision has been superseded. Help about Status

Changes to legislation:

The Electronic Money Regulations 2011, Section 4 is up to date with all changes known to be in force on or before 04 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

The register of certain electronic money issuersU.K.

This section has no associated Explanatory Memorandum

4.—(1) The Authority must maintain a register of—

(a)authorised electronic money institutions and their EEA branches;

(b)small electronic money institutions;

[F1(ba)persons who have notified the Authority in accordance with regulation 3A or 3B;]

(c)agents of electronic money institutions required to be registered under regulation 34; and

(d)the National Savings Bank where it issues electronic money.

(2) The Authority may include on the register any of the persons mentioned in paragraphs (c), (e), (f) and (g) of the definition of electronic money issuer in regulation 2(1) where such persons issue electronic money.

(3) Where a person mentioned in paragraph (e), (f), (g) or (j) of the definition of an electronic money issuer in regulation 2(1)—

(a)is not included on the register; and

(b)issues, or proposes to issue, electronic money,

the person must give notice to the Authority.

(4) A notice under paragraph (3) must be given in such manner as the Authority may direct.

(5) The Authority may—

(a)keep the register in any form it thinks fit;

(b)include on the register such information as the Authority considers appropriate, provided that the register identifies the electronic money issuance for which the institution is authorised or registered under this Part; and

(c)exploit commercially the information contained in the register, or any part of that information.

(6) The Authority must—

(a)publish the register online and make it available for public inspection;

[F2(aa)enter in the register any cancellation of an authorisation or registration;

(ab)enter in the register a description of the service provided by a person included on the register by virtue of paragraph (1)(ba);]

(b)update the register on a regular basis; and

(c)provide a certified copy of the register, or any part of it, to any person who asks for it—

(i)on payment of the fee (if any) fixed by the Authority; and

(ii)in a form (either written or electronic) in which it is legible to the person asking for it.

[F3(7) The Authority must, without delay, notify the European Banking Authority of—

(a)the information entered in the register;

(b)any changes to the information in the register;

(c)the reasons for the cancellation of any authorisation or registration; and

(d)where a person is included on the register by virtue of paragraph (1)(ba), the particular exclusion which applies to the person.]

Textual Amendments

F1Reg. 4(1)(ba) inserted (13.8.2017 for specified purposes, 13.10.2017 for specified purposes, 13.1.2018 in so far as not already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(c)(iii)(3)(f)(i)(6), Sch. 8 para. 5(5)(a) (with reg. 3)

F2Reg. 4(6)(aa)(ab) inserted (13.8.2017 for specified purposes, 13.10.2017 for specified purposes, 13.1.2018 in so far as not already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(c)(iii)(3)(f)(i)(6), Sch. 8 para. 5(5)(b) (with reg. 3)

F3Reg. 4(7) inserted (13.8.2017 for specified purposes, 13.10.2017 for specified purposes, 13.1.2018 in so far as not already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(c)(iii)(3)(f)(i)(6), Sch. 8 para. 5(5)(c) (with reg. 3)

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