Schedule 8, Part 2, paragraph 5(18)

In regulation 28 (notice of intention)— in paragraph (2), for sub-paragraphs (a) to (d) substitute— states the name and address of the institution, and any authorisation or reference number; identifies the EEA States in which it intends to operate; identifies the electronic money issuance, redemption, distribution or payment services which it seeks to carry on in those States; if the institution intends to use an agent to provide the services in any of those States, includes the information referred to in regulation 34(3) (requirement for agents to be registered); if the institution intends to use an EEA branch to provide the services in any of those States, includes— the information referred to in paragraphs 2 and 5 of Schedule 1 in relation to the services to be provided through each EEA branch; the names of those responsible for the management of each proposed EEA branch; and details of the organisational structure of each proposed EEA branch; if the authorised payment institution intends to enter into a contract with a person in another EEA State under which that person will carry out any operational function relating to the issuance, distribution or issuance of electronic money or the provision of payment services in that EEA State, includes notification of that intention; and identifies the distributors, if any, whom the institution intends to engage to distribute or redeem electronic money in exercise of its passport rights in that State. for paragraphs (3) and (4) substitute— If any of the information provided by an authorised electronic money institution in a notice of intention changes, including by the addition of a further branch, the institution must give the Authority notice of such changes in a further notice of intention. The Authority must, within one month beginning with the date on which it receives a complete notice of intention, inform the host state competent authority of the information contained in the notice of intention.

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