Amendments to secondary legislation

The Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001

10.—(1) The Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001(1) are amended as follows.

(2) In regulation 1(2) (interpretation), after the definition of “credit institution” insert—

““electronic money institution” means an electronic money institution as defined in Article 1 of directive 2000/46/EC of the European Parliament and of the Council of 18th September 2000 on the taking up, pursuit of and prudential supervision of the business of electronic money institutions(2);”.

(3) In paragraph (3)(d) of regulation 2 (establishment of branch: contents of consent notice), at the beginning insert “except where the firm is an electronic money institution,”.

(4) In paragraph (4)(a)(ii) of that regulation, after “credit institution” the first time it occurs insert “(other than an electronic money institution)”.