passport right

(in accordance with regulation 2(1) of the Electronic Money Regulations) the entitlement of a person to establish a branch or provide services in an EEA State other than that in which they are authorised to provide electronic money issuance services:

1. (a) in accordance with the Treaty on the Functioning of the European Union as applied in the EEA; and
1. (b) subject to the conditions of the Electronic Money Directive.