# The Electronic Money Regulations 2011, Paragraph 11


An electronic money institution must not include in its own funds calculation—
(a) any item used in an equivalent calculation of own funds by an electronic money institution, authorised payment institution, credit institution, investment firm, asset management company or insurance undertaking in the same group; or
(b) in the case of an electronic money institution which carries on activities other than electronic money issuance or the provision of payment services, any item included in an own funds calculation required by or under any other enactment.

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Source: https://www.legislation.gov.uk/uksi/2011/99/schedule/2/paragraph/11 (the official version)
Page: https://openlegislation.uk/electronic-money-regulations-2011/schedule-2/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.