Regulation 24A

1. Section 93(4) of the Banking Act 2009 (interpretation: other expressions) applies as if -

(a) the reference to a bank were to an authorised electronic money institution or small electronic money institution;

(b) the reference to an agreement in paragraph (a) were to a contract for electronic money issuance or payment services; and

(c) in the closing words, from "for the purposes" to "the bank" were omitted.

2. Section 233 of the Banking Act 2009 (insolvency regulations) applies as if -

(a) references to investment bank insolvency regulations were to electronic money institution insolvency regulations;

(b) references to investment banks were to authorised electronic money institutions and small electronic money institutions;

(c) references to client assets were to relevant funds;

(d) in subsection (3)(c), the reference to clients were to electronic money holders and payment service users; and

(e) in subsection (4) -