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Article 5 › 6

EMD2
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) · European Union

Member States shall take the necessary measures to prevent the multiple use of elements eligible for own funds: (a) where the electronic money institution belongs to the same group as another electronic money institution, a credit institution, a payment institution, an investment firm, an asset management company or an insurance or reinsurance undertaking; (b) where an electronic money institution carries out activities other than the issuance of electronic money.

National law under this provision

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Source: EUR-Lex CELLAR · retrieved 2026-08-27