PART 7GENERAL

Transitional provisions

Existing fixed term contracts77

1

Part 5 shall not apply in respect of the redemption of electronic money that has been issued before 30th April 2011 where the contract—

a

provides for a termination date up to two years after the date on which the contract was entered into; and

b

does not provide that the means of storing electronic money can be recharged.

2

In paragraph (1) “termination date” has the same meaning as in Part 5.