Subsection 1: Approval

In the cases provided for in Articles L. 526-14 and L. 526-15, the funds of electronic money holders collected by an electronic money institution are returned to the holders or transferred to a credit institution, another authorised electronic money institution or the Caisse des dépôts et consignations. At the end of the period provided for in article L. 526-16, the undertaking loses the status of electronic money institution and must…

The removal of an electronic money institution from the list of authorised electronic money institutions may be ordered as a disciplinary sanction by the Autorité de contrôle prudentiel et de résolution. For an electronic money institution carrying out activities of a hybrid nature within the meaning of Article L. 526-3, deregistration means that the institution is prohibited from carrying out the activities for which it was granted authorisation as an…

I. – The Autorité de contrôle prudentiel et de résolution may issue a simplified electronic money institution authorisation where the commercial activities as a whole generate an average of electronic money in circulation of less than an amount set by decree. Before issuing and managing electronic money, the electronic money institutions referred to in the first paragraph must obtain authorisation which is issued by the Autorité de contrôle prudentiel et…

The conditions for the application of articles L. 526-14 to L. 526-18, in particular the procedures for informing the public of decisions to withdraw authorisation and deregister, are set by order of the Minister for the Economy.