Section 2: Conditions for admission to the profession

In this subsection and for the application of the provisions relating to freedom of establishment and freedom to provide services : 1° “Competent authorities” means the authority or authorities of another Member State of the European Union or party to the Agreement on the European Economic Area responsible, in accordance with the law of that State, for authorising or supervising electronic money institutions which have their head office or central…

I. – Any electronic money institution having its registered office in mainland France, Guadeloupe, French Guiana, Martinique, Reunion Island, Mayotte or Saint-Martin and wishing to carry on business in another Member State of the European Union or party to the Agreement on the European Economic Area under the freedom of establishment or the freedom to provide services shall notify its plans to the Autorité de contrôle prudentiel et de résolution….

The Autorité de contrôle prudentiel et de résolution may, in particular on the basis of the information, concerns or adverse assessment, if any, communicated by the host State authorities, refuse to authorise the electronic money institution concerned to carry on business under the freedom of establishment or the freedom to provide services, or revoke the authorisation already granted. Where the Autorité de contrôle prudentiel et de résolution does not agree…

I. – Within the limits of the activity of issuing and managing electronic money that it is authorised to carry on in the territory of its home country other than France, and depending on the authorisation it has received there, any electronic money institution may carry on its activity in mainland France, Guadeloupe, French Guyana, Martinique, La Réunion, Mayotte or Saint-Martin, under the freedom of establishment or the freedom to…