(1) There are excluded from article 60B activities carried on by a person who is an EEA authorised electronic money institution exercising passport rights in the United Kingdom in accordance with Article 18(4) of the payment services directive as applied by Article 6 of the electronic money directive.
(2) Terms used in this article have the meanings given in the Electronic Money Regulations 2011 [S.I. 2011/99. There are amending instruments but none is relevant.].