PART II U.K. ELECTRONIC MONEY

Amendments of the principal Order U.K.

Sums received in exchange for electronic money not to constitute deposits U.K.

3.—(1) In paragraph (2) of article 5 of the principal Order (accepting deposits), for “articles 6 to 9” substitute “ articles 6 to 9A ”.

(2) After article 9 of the principal Order insert—

Sums received in exchange for electronic money

9A.   A sum is not a deposit for the purposes of article 5 if it is immediately exchanged for electronic money.”