Section 41(1)

Redemption may be subject to a fee only where the fee is stated in the contract in accordance with regulation 40(a), and— redemption is requested before the termination of the contract; the contract provides for a termination date and the electronic money holder terminates the contract before that date; or redemption is requested more than one year after the date of termination of the contract.

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Source: legislation.gov.uk · retrieved 2026-09-04