Key Benefits:
Law of 22 December 2011 amending the Financial Supervision Act, and any other laws implementing Directive No 2009 /110/EC of the European Parliament and of the Council 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 amending Directives 2005 /60/EC and 2006 Repeal of Directive 2000 /46/EC (PbEU L 267)
We Beatrix, at the grace of God, Queen of the Netherlands, Princess of Orange-Nassau, etc. etc. etc.
All of them, who will see or hear these, saluut! do know:
In this regard, we have taken into consideration that: Directive No 2009 /110/EC of the European Parliament and of the Council on access to, the exercise and prudential supervision of the business of electronic money institutions, amending the Directives 2005 /60/EC and 2006 /48/EC and repealing Directive 2000 /46/EC (PbEU L 267), which provides for an authorisation system for electronic money institutions, should be implemented in the Netherlands;
It is true that we, the Department of Consultative Affairs of the Council of State, and with the mean consultations of the States-General, have found and understand the same as We approve and understand:
1 For the purposes of this Article, the electronic money institution shall mean a legal person or a natural person who, on 30 April 2011, had a licence to use the business of electronic money institution in the Netherlands. exercise, which licence has not been revoked or expired after that date.
2 Under exempt issuer of electronic money, for the purposes of this Article: a legal person or natural person who, from a time of time, shall be in accordance with the rules of the Law on financial supervision as it was before that date without holding a licence from the Netherlands Bank, the holding of an electronic money institution.
3 Electronic money institutions may carry out their business until 30 October 2011 in accordance with the provisions of the Part Market Access Financial Undertakings and the Part Prudential Supervision Financial Undertakings of the Financial Supervision Act Like this one on 29 April 2011.
4 De Nederlandsche Bank may decide on an electronic money institution for the purpose of Article 2:10a of the Financial Supervision Act to provide evidence of sufficient evidence to show that the institution concerned complies with the requirements set out in Article 2:10b of the Financial Supervision Act .
5 The third paragraph shall be without prejudice to the authorisation of legal persons referred to in paragraph 3 of this Regulation as intended Article 2:10b of the Financial Supervision Act can request.
6 On exempt issuers of electronic money continue until 30 April 2012 Market Access Financial Undertakings and the part of the Prudential Supervision Financial Undertakings of the Financial Supervision Act Applicable as they were in place on 29 April 2011.
1 In decisions taken with regard to credit institutions, taken on the basis of a Articles I , II , IV to XVIII or XXa to XXf Law, as provided for in that law prior to the entry into force of the relevant Article, shall, in so far as those acts concern the pursuit of the holding of a bank, be read as a credit institution:
2 The first paragraph shall apply mutatis mutandis to applications for a decision as referred to in the first paragraph.
This Act shall enter into force on a date to be determined by Royal Decree which may be adopted in a different way for the various articles. Article I, with the exception of Section Ba , the Articles II to V , and XV , XIX and XXth working then back until 30 April 2011.
Burdens and orders that it will be placed in the Official Gazette, and that all ministries, authorities, colleges and officials who so concern will keep their hands on the precise execution.
Entry
' s-Gravenhage, 22 December 2011
Beatrix
The Minister of Finance,
J. C. de Jager
The Minister for Security and Justice,
I. W. Opstelten
Published the twenty-ninth December 2011The Minister for Security and Justice,
I. W. Opstelten
