Periodic Information to be Transmitted to the CBFA by Electronic Money Institutions Exempt under Article 2, Paragraph 2, First Paragraph, 3 of the Law of 22 March 1993

rue du Congrès 12-14 | 1000 Brussels t +32 2 220 53 42 | f +32 2 220 54 93 | www.cbfa.be Prudential Policy Brussels, 10 July 2007 Communication SUBJECT: Periodic information to be transmitted to the CBFA by electronic money institutions that benefit from an exemption based on Article 2, § 2, first paragraph, 3°, of the Law of 22 March 1993 on the status and supervision of credit institutions

The Banking, Finance and Insurance Commission has recently granted an exemption from the application of the provisions of the Law to an electronic money institution, in accordance with Article 2, § 2, first paragraph, 3° of the Law of 22 March 1993, due to the limited number of enterprises that accept the issued electronic money as a payment instrument.

Following this exemption decision, the CBFA also fixed, by an individual decision taken after obtaining the opinion of the National Bank of Belgium, the modalities of the periodic information that the activity report submitted by the beneficiary of the exemption must contain, in accordance with Article 2, § 2, paragraph 2, 3° of the Law. This report must be communicated periodically to the National Bank of Belgium and the Banking, Finance and Insurance Commission.

This individual decision deviates only to the extent necessary from the provisions of the CBFA Regulation of 6 June 2006, which governs this matter for electronic money institutions exempted in accordance with Article 2, § 2, first paragraph, 1° of the Law, due to the limited amount of electronic money they issue.

Nevertheless, this individual decision may be of interest to any other electronic money institution considering applying for an exemption from the application of the provisions of the Law due to the limited number of enterprises accepting the electronic money they issue as a payment instrument.

The Commission has therefore decided to place this anonymized individual decision on its website, as an annex to this communication.

The President,
Jean-Paul Servais.
Annex: Individual Decision