Article 20 | EMD 2 | Directive 2009/110/EC

In force

Initial Legal Act

Amendments

There is currently no Level 2 legal act based on or specifying Article 20.

Article 20 - Directive 2009/110/EC (EMD 2)

Article 20

Amendments to Directive 2006/48/EC

Directive 2006/48/EC is hereby amended as follows:

Article 4 is amended as following:

(a)

point 1 is replaced by the following:

‘1.	“credit institution” means an undertaking the business of which is to receive deposits or other repayable funds from the public and to grant credits for its own account;’

(b)

point 5 is replaced by the following:

‘5.	“financial institution” means an undertaking other than a credit institution, the principal activity of which is to acquire holdings or to pursue one or more of the activities listed in points 2 to 12 and 15 of Annex I.’;

the following point is added to Annex I:

‘15.	Issuing electronic money.’.

TITLE I - SCOPE AND DEFINITIONS (Article 1-2)

TITLE II - REQUIREMENTS FOR THE TAKING UP, PURSUIT AND PRUDENTIAL SUPERVISION OF THE BUSINESS OF ELECTRONIC MONEY INSTITUTIONS (Article 3-9)

TITLE III - ISSUANCE AND REDEEMABILITY OF ELECTRONIC MONEY (Article 10-13)