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Status:
Point in time view as at 09/02/2011.
Changes to legislation:
The Electronic Money Regulations 2011, Paragraph 11 is up to date with all changes known to be in force on or before 07 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.
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This section has no associated Explanatory Memorandum
11. An electronic money institution must not include in its own funds calculation—U.K.
(a)any item used in an equivalent calculation of own funds by an electronic money institution, authorised payment institution, credit institution, investment firm, asset management company or insurance undertaking in the same group; or
(b)in the case of an electronic money institution which carries on activities other than electronic money issuance or the provision of payment services, any item included in an own funds calculation required by or under any other enactment.
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