Regulation 66 Derogation from information requirements for low-value payment instruments and electronic money

(1) In this Regulation, “low-value payment instrument” means a payment instrument that, in accordance with the relevant framework contract -

(a)

(i) is not prepaid,

(ii) relates to payment transactions not wholly within the State, and

(iii)

(I) concerns only payment transactions none of which exceeds €30,

(II) has a spending limit of €150, or

(III) does not store more than €150 at any time,

(b)

(i) is not prepaid,

(ii) relates to payment transactions wholly within the State, and

(iii)

(I) concerns only payment transactions none of which exceeds €60,

(II) has a spending limit of €300, or

(III) does not store more than €300 at any time, or

(c)

(i) is prepaid, and

(ii)

(I) concerns only payment transactions none of which exceeds €500,

(II) has a spending limit of €500, or

(III) does not store more than €500 at any time.

(2) Where a payment instrument is a low-value payment instrument -

(a) notwithstanding Regulations 75, 76 and 80, the payment service provider need p

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