(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,