http://www.legislation.gov.uk/uksi/2011/99/schedule/2/paragraph/11/2011-02-09The Electronic Money Regulations 2011texttext/xmlenStatute Law DatabaseFINANCIAL SERVICES AND MARKETS2024-05-162011-01-19 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). SCHEDULE 2Capital Requirements PART 2 Own funds<Emphasis>Limits on qualifying items</Emphasis>11An electronic money institution must not include in its own funds calculation—aany 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; orbin 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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