For the purposes of these Regulations electronic money does not include -
(a) monetary value stored on specific payment instruments that can be used only in a limited way and meet one of the following conditions -
(i) allow the holder to acquire goods or services only in the issuer's premises;
(ii) are issued by a professional issuer and allow the holder to acquire goods or services only within a limited network of service providers which have direct commercial agreements with the issuer;
(iii) may be used only to acquire a very limited range of goods or services; or
(iv) are valid only in the United Kingdom, are provided at the request of an undertaking or a public sector entity, and are regulated by a national or regional public authority for specific social or tax purposes to acquire specific goods or services from suppliers which have a commercial agreement with the issuer;
(b) monetary value that is used to make payment transactions resulting from services provided by a provider o
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