Article 1

Regulation (EC) No 2423/2001 (ECB/2001/13) is amended as follows:

1. 1..

   in Article 1, the following paragraph is added:

   ‘For the purposes of this Regulation, the terms “electronic money institution” and “electronic money” shall have the same meaning as in Article 1(3) of Directive 2000/46/EC of the European Parliament and of the Council of 18 September 2000 on the taking up, pursuit of and prudential supervision of the business of electronic money institutions^f1.’;

2. 2..

   in Article 2, the following paragraph 4 is added:

   ‘4.

   Without prejudice to Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast)^f2 and Article 2 of Regulation (EC) No 1745/2003 of the European Central Bank of 12 September 2003 on the application of minimum reserves (ECB/2003/9)^f3, NCBs may, subject to the conditions specified in paragraphs 2 to 4 of Annex III, grant derogations to individual electronic money institutions. The NCBs shall check the fulfilment of the conditions laid down in paragraph 2 of Annex III in good time in order to grant or withdraw, if necessary, any derogation. Any NCB that grants such a derogation shall inform the ECB thereof.’

3. 3..

   Annex I is amended in accordance with Annexes I and II to this Regulation.

4. 4..

   Annex III is replaced by the text set out in Annex III to this Regulation.

5. 5..

   Annex V is amended in accordance with Annex IV to this Regulation.