http://www.legislation.gov.uk/uksi/2011/99/regulation/46The Electronic Money Regulations 2011texttext/xmlenStatute Law DatabaseFINANCIAL SERVICES AND MARKETS2024-06-19Expert Participation2024-01-04 These Regulations implement Directive 2009/110/EC of the European Parliament and of the Council of 16th September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions (“the Directive”) (OJ No L 275, 27.10.2000, p.39). PART 5ISSUANCE AND REDEEMABILITY OF ELECTRONIC MONEYTermination of a contract46For the purposes of this Part a contract between an electronic money issuer and an electronic money holder terminates when the right to use electronic money for the purpose of making payment transactions ceases.
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