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Changes over time for: Cross Heading: Own funds requirement
Timeline of Changes
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Status:
Point in time view as at 13/01/2018.
Changes to legislation:
The Electronic Money Regulations 2011, Cross Heading: Own funds requirement 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.
Changes to Legislation
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Own funds requirementU.K.
13. An authorised electronic money institution must calculate its own funds requirement—U.K.
(a)in accordance with such of Method A, Method B or Method C as the Authority may direct in respect of any activities carried on by the authorised electronic money institution consisting of payment services [specified in paragraph 1(a) to (f) of Schedule 1 of the Payment Services Regulations 2017] that are not related to the issuance of electronic money; and
(b)in accordance with Method D in respect of any activities carried on by the authorised electronic money institution that consist of the issuance of electronic money and payment services that are related to the issuance of electronic money.
14. Where a small electronic money institution is required by regulation 19(2) to maintain own funds, it must calculate its own funds requirement as an amount equal to 2% of the average outstanding electronic money of the institution.U.K.
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