Section 2

52 The Electronic Money Regulations 2011 (S.I. 2011/99) are amended in accordance with paragraphs 53 to 62.

53 In regulation 48 (monitoring and enforcement), after paragraph (1)(a) insert -

"(aa) electronic money institutions on whom requirements are imposed by or under section 312R of the 2000 Act are complying with them;".

54 In regulation 49 (reporting requirements), after paragraph (1) insert -

"(1A) An electronic money institution must give the Authority such information in respect of its compliance with requirements imposed by or under section 312R of the 2000 Act as the Authority may direct."

55 In regulation 50 (public censure), after "Regulations" insert "or, in the case of an electronic money institution, section 312R of the 2000 Act".

56 In regulation 51 (financial penalties) -

(a) omit "or" at the end of paragraph (1)(a), and

(b) after that paragraph insert -