(1) The Electronic Money Regulations 2011 [S.I. 2011/99.] are amended as follows.
(2) After regulation 59 (costs of supervision), insert -
"59A. Credit agreements
Schedule 2A, which contains provisions concerning credit agreements, has effect.".
(3) After Schedule 2, insert -
"SCHEDULE 2A Credit agreements
Regulation 59A
PART 1 Prohibitions and restrictions
Power to prohibit the entry into credit agreements
(1) If it appears to the Authority that sub-paragraph (4) has been, or is likely to be, contravened as respects an EEA authorised electronic money institution exercising passport rights in the United Kingdom, it may by notice given to the institution in accordance with Part 2 of this Schedule impose on the institution a credit prohibition.
(2) If it appears to the Authority that a restriction imposed under paragraph 2 on an EEA authorised electronic money institution exercising passport rights in the United Kingdom has not been complied with, it may by notice given to the instit
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