Subsection 1: Definitions

For the application of the provisions of this Book: 1° A “financial institution” is a company other than a credit institution mentioned in Article L. 511-1 or an investment firm mentioned in Article L. 531-4 and other than a purely industrial holding company, whose main activity consists of acquiring holdings or carrying out one or more of the following activities: a) Lending; b) Leasing; c) Payment services; d) Issuing and…

For the purposes of this section, the following definitions shall apply 1° “Instructing party” means either the person who holds an account with the payment service providers defined in point 3 and who authorises a transfer of funds from that account, or, if there is no account, the person who gives an order for the transfer of funds; 2° “Beneficiary” means the person who is the intended recipient of the…