Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC (Text with EEA relevance) (c. 110)

TITLE III U.K. ISSUANCE AND REDEEMABILITY OF ELECTRONIC MONEY

Article 10 U.K. Prohibition from issuing electronic money

Without prejudice to Article 18, Member States shall prohibit natural or legal persons who are not electronic money issuers from issuing electronic money.