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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 13 January 2018 - onwards
  Version 3 of 3    

Regulation 59 Supervision.

(1) The Bank -

(a) may require an electronic money issuer to provide such information as it requires to monitor the institution's compliance with these Regulations,

(b) may carry out on-site inspections at -

(i) the premises of an electronic money issuer,

(ii) any distributor, agent or branch issuing electronic money or providing payment services under the responsibility of an electronic money issuer,

(iii) the premises of any entity to which an electronic money issuer's activities are outsourced, and

(iv) any premises at which the issuance of electronic money or payment services are, or are suspected of being, conducted,

and

(c) may issue recommendations and guidelines.

(2) The Bank may take steps to ensure that an electronic money institution maintains sufficient capital for the issuance of electronic money or the provision of payment services, in particular where the activities not related to the issuance of electronic money of an electronic money institution impair or are likely to

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