Royal Decree of 3 June 2018 implementing the Law of 11 March 2018 regarding limited payment institutions and limited electronic money institutions

Title

2018012697

3 JUNE 2018. - Royal Decree implementing the Law of 11 March 2018 regarding the status and supervision of payment institutions and electronic money institutions, access to the activity of payment service providers and electronic money issuance activity, and access to payment systems, with regard to limited payment institutions and limited electronic money institutions

Source: Finances

Publication: 19 June 2018

Number: 2018012697

page: 50358

File number: 2018-06-03/02

Entry into force: 29 June 2018

CHAPTER 1st. - DEFINITIONS
Art. 1
CHAPTER 2. - LIMITED PAYMENT INSTITUTIONS Art. 2 CHAPTER 3. - LIMITED ELECTRONIC MONEY INSTITUTIONS Art. 3 CHAPTER 4. - Entry into force and Final Provision Art. 4

Text

CHAPTER 1st. - DEFINITIONS

Article 1st. For the application of this Royal Decree, the following terms shall be understood as:
1° the Law: the Law of 11 March 2018 regarding the status and supervision of payment institutions and electronic money institutions, access to the activity of payment service providers and electronic money issuance activity, and access to payment systems; 2° limited payment institution: an institution referred to in Article 2, 9°, of the Law which is registered pursuant to Article 82 of the Law; 3° limited electronic money institution: an institution referred to in Article 2, 74°, of the Law.

CHAPTER 2. - LIMITED PAYMENT INSTITUTIONS

Art. 2. The limited payment institution is exempt from the application of:
1° Article 15 of the Law;
2° Article 18 of the Law;
3° Article 20, § 2, of the Law;
4° Article 21, § 1st, 1°, 5°, 6°, 7° and 8°, of the Law, insofar as these provisions do not concern compliance with the Law of 18 September 2017 regarding the prevention of money laundering and terrorist financing and the limitation of the use of cash; 5° Article 33, § 1st, second paragraph, and § 2, of the Law; 6° Article 34, § 1st, 1°, of the Law with regard to the organizational arrangements of the institution referred to in Article 21, § 1st, 1°, 5°, 6°, 7° and 8°, of the Law; 7° Article 36, first paragraph, of the Law with regard to the measures necessary to ensure compliance with and implementation of Article 21, § 1st, 1°, 5°, 6°, 7° and 8°, of the Law; 8° Article 36, paragraphs 2 and 3, of the Law; 9° Article 48 of the Law; 10° Articles 59 to 70 of the Law.

CHAPTER 3. - LIMITED ELECTRONIC MONEY INSTITUTIONS

Art. 3. The limited electronic money institution is exempt from the application of:
1° Article 171 of the Law;
2° Article 173 of the Law, it being understood that Article 17 remains applicable with regard to payment services offered by the limited electronic money institution; 3° Article 175, § 2, of the Law; 4° Article 176, § 1st, of the Law insofar as it refers to Article 21, § 1st, 1°, 5°, 6°, 7° and 8°, of the Law and insofar as it does not concern compliance with the Law of 18 September 2017 regarding the prevention of money laundering and terrorist financing and the limitation of the use of cash; 5° Article 179, § 1st, of the Law with regard to the organizational arrangements of the institution referred to in Article 176 of the Law insofar as it refers to Article 21, § 1st, 1°, 5°, 6°, 7° and 8°, of the Law; 6° Article 180, first paragraph, of the Law with regard to the measures necessary to ensure compliance with and implementation of Article 176 of the Law insofar as it refers to Article 21, § 1st, 1°, 5°, 6°, 7° and 8°, of the Law; 7° Article 180, paragraphs 2 and 3, of the Law; 8° Article 182, § 1st, first paragraph, of the Law; 9° Articles 186 to 189 of the Law.

CHAPTER 4. - Entry into force and Final Provision

Art. 4. The Minister responsible for Finances is charged with the execution of this Royal Decree.

Signatures

Given in Brussels, on 3 June 2018.
PHILIPPE
By the King:
The Minister of Finances,
J. VAN OVERTVELDT

Preamble

PHILIPPE, King of the Belgians,
To all, present and future, Greetings.
Having regard to the Law of 22 February 1998 establishing the organic status of the National Bank of Belgium, Article 12bis, § 2, third paragraph; Having regard to the Law of 11 March 2018 regarding the status and supervision of payment institutions and electronic money institutions, access to the activity of payment service providers and electronic money issuance activity, and access to payment systems, in particular Articles 86, 87, 202 and 203 of the same Law; Having regard to Opinion 63.436/2 of the Council of State, given on 30 May 2018, pursuant to Article 84, § 1st, first paragraph, 1°, of the Laws on the Council of State, coordinated on 12 January 1973; Having regard to the favorable opinion of the National Bank of Belgium of 28 March 2018; On the proposal of the Minister of Finances, We have decreed and decree:

Links

https://www.ejustice.just.fgov.be/eli/arrete/2018/06/03/2018012697/justel Image of the official publication

External Link

Council of State