Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

Alternative versions

  1. Point in time
    2008-10-07

ELM 4.1 Application

ELM 4.1.1G

The effect of ELM 1.1.1 R to ELM 1.1.3 R is that:

  1. (1)

    this chapter applies to ELMIs;

  2. (2)

    this chapter, except ELM 4.3, applies to a bank or building society that is an e-money firm;

  3. (3)

    no part of this chapter applies to:

    1. (a)

      an incoming EEA firm; or

    2. (b)

      an incoming Treaty firm.

ELM 4.1.2R

In the case of an overseas firm, ELM 4.4 applies only in relation to e-money issued from an establishment maintained by the firm in the United Kingdom.

ELM 4.1.3G

Except in the case set out in ELM 4.1.2 R, the rules in this chapter apply on a worldwide basis.

ELM 4.1.4G

Thus for example an ELMI cannot carry on any activity prohibited by ELM 4.3.1 R anywhere in the world.