Royal Decree of 30 July 2018 approving the Regulation of the National Bank of Belgium of 26 June 2018 concerning the administrative file for the registration of limited payment institutions and limited e-money institutions

FEDERAL PUBLIC SERVICE FINANCES
[C − 2018/13236]
30 JULY 2018. — Royal Decree approving the regulation of the National Bank of Belgium of 26 June 2018 concerning the administrative file relating to the registration of limited payment institutions and limited e-money institutions

PHILIPPE, King of the Belgians,
To all, present and future, Greeting.

Having regard to the Act of 22 February 1998 fixing the organic statute of the National Bank of Belgium, Article 12bis, § 2;

Having regard to the Act of 11 March 2018 on the status and supervision of payment institutions and e-money institutions, access to the business of payment service providers and to the activity of issuing e-money and access to payment systems, Articles 82, § 1, and 200, § 1;

On the proposal of the Minister of Finance,

We have decided and do decide:

Article 1. The regulation of 26 June 2018 of the National Bank of Belgium concerning the administrative file relating to the registration of limited payment institutions and limited e-money institutions, annexed to this Decree, is approved.

Art. 2. This Decree shall enter into force on the day of its publication in the Belgian State Gazette.

Art. 3. The Minister who has Finance in his portfolio is charged with the execution of this Decree.

Given at L’Île-d’Yeu, 30 July 2018.

PHILIPPE

By the King:
The Minister of Finance,
J. VAN OVERTVELDT

Annex to the Royal Decree of 30 July 2018 approving the regulation of the National Bank of Belgium of 26 June 2018 concerning the administrative file relating to the registration of limited payment institutions and limited e-money institutions

Regulation of the National Bank of Belgium of 26 June 2018 concerning the administrative file relating to the registration of limited payment institutions and limited e-money institutions

The National Bank of Belgium,

Having regard to Article 12bis of the Act of 22 February 1998 fixing the organic statute of the National Bank of Belgium;

Having regard to the Act of 11 March 2018 on the status and supervision of payment institutions and e-money institutions, access to the business of payment service providers and to the activity of issuing e-money and access to payment systems, in particular Articles 82, § 1, and 200, § 1,

We have decided and do decide:

Section 1. — General provision, definitions and scope

Art. 1. This Regulation ensures the partial transposition of Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010 and repealing Directive 2007/64/EC.

Art. 2. For the purposes of this Regulation, the following shall be understood:

1° "the Act": the Act of 11 March 2018 on the status and supervision of payment institutions and e-money institutions, access to the business of payment service providers and to the activity of issuing e-money and access to payment systems;

2° "the Bank": the National Bank of Belgium;

3° "limited payment institution": an institution referred to in Article 2, 9°, of the Act which is registered pursuant to Article 82 of the Act;

4° "limited e-money institution": an institution referred to in Article 2, 74°, of the Act;

5° "auditor": the auditor referred to in Article 110 of the Act.

Section 2. — Limited payment institutions

Art. 3. The administrative file referred to in Article 82, § 1, of the Act shall contain the following:

1° a program of activities indicating which of the payment services referred to in points 1 to 5 of Annex I.A of the Act the applicant intends to provide, and, if applicable, which other activities referred to in Articles 43 and 44 of the Act;

2° a business plan including a financial plan for the first three financial years, demonstrating that the applicant has the resources appropriate for its intended activities to ensure sound management in respect of payment services;

3° proof that the applicant has the initial capital referred to in Article 17 of the Act;

4° a description of the measures taken in accordance with Article 42, § 1, of the Act to protect the funds of the payment service user;

5° a description of the applicant’s management structure and organisational arrangements, showing compliance with the obligations imposed by the Act of 18 September 2017 on the prevention of money laundering and terrorist financing and on the limitation of the use of cash;

6° a description of the use to be made of agents and branches in Belgium and of the schedule for on-site and documentary inspections, referred to in Article 73 of the Act, and, if applicable, of the applicant’s intended participation in a national or international payment system;

7° the identity of the shareholders or partners referred to in Article 19 of the Act, the size of their participation in capital fractions and voting rights, as well as all information enabling it to be shown that the requirements of Article 19 of the Act are met;

8° the identity of the managers referred to in Article 20, § 1, of the Act and all information enabling it to be shown that the requirements of Article 20, §§ 1 and 3, of the Act are met;

9° the identity of the auditor(s);

10° the legal form and the articles of association of the applicant;

11° the address of the applicant’s registered office;

12° a description of the arrangements ensuring compliance with the common and secure open communication standards referred to in Article 49 of the Act;

13° a description of the applicant’s security policy, showing compliance with Articles 50 to 52 of the Act, and in particular a detailed analysis of the risks associated with the payment services carried out in accordance with Article 50 of the Act, and a description of the risk management and mitigation measures taken to protect users and manage the operational and security risks referred to in Articles 51 and 52 of the Act;

14° for the provision of services consisting in the issuance of card-based payment instruments: a description of the procedure showing compliance with Article 55 of the Act;

15° for account management: a description of the procedure showing compliance with Articles 56 to 58 of the Act.

Section 3. — Limited e-money institutions

Art. 4. § 1. The administrative file referred to in Article 200, § 1, shall contain the following:

1° a program of activities indicating the e-money issuance activity the applicant intends to carry out, and, if applicable, any other activities referred to in Article 191, second paragraph, 192 and 203, § 1, of the Act;

2° a business plan including a financial plan for the first three financial years, demonstrating that the applicant has the resources appropriate for its intended activities to ensure sound management in respect of e-money issuance;

3° a description of the measures taken in accordance with Article 194 of the Act to protect funds received in exchange for issued e-money;

4° a description of the applicant’s management structure and organisational arrangements, showing compliance with the obligations imposed by the Act of 18 September 2017 on the prevention of money laundering and terrorist financing and on the limitation of the use of cash;

5° a description of the use to be made of distributors, agents and branches in Belgium and of the schedule for on-site and documentary inspections, referred to in Article 73 of the Act, as referred to in Article 190, § 2, of the Act, and, if applicable, of the applicant’s intended participation in a national or international payment system;

6° the identity of the shareholders or partners referred to in Article 174 of the Act, the size of their participation in capital fractions and voting rights, as well as all information enabling it to be shown that the requirements of Article 174 of the Act are met;

7° the identity of the managers referred to in Article 175, § 1, of the Act and all information enabling it to be shown that the requirements of Article 175, §§ 1 and 3, of the Act are met;

8° the identity of the auditor(s);

9° the legal form and the articles of association of the applicant;

10° the address of the applicant’s registered office.

§ 2. If the limited e-money institution also provides payment services, the administrative file referred to in the first paragraph shall also contain the following:

1° proof that the applicant has the initial capital required by Article 17 for the relevant payment service;

2° a description of the arrangements ensuring compliance with the common and secure open communication standards referred to in Article 49 of the Act;

3° a description of the legal entity’s security policy, showing compliance with Articles 50 to 52 of the Act, and in particular a detailed analysis of the risks associated with the payment services carried out in accordance with Article 50 of the Act, and a description of the risk management and mitigation measures taken to protect users and manage the operational and security risks referred to in Articles 51 and 52 of the Act;

4° for the provision of services consisting in the issuance of card-based payment instruments: a description of the procedure showing compliance with Article 55 of the Act;

5° for account management: a description of the procedure showing compliance with Articles 56 to 58 of the Act.

Section 4. — Final provisions

Art. 5. This Regulation shall enter into force on the date of entry into force of the Royal Decree approving it.

Brussels, 26 June 2018.

The Governor,
J. SMETS

Approved to be annexed to Our Decree of 30 July 2018 approving the regulation of the National Bank of Belgium of 26 June 2018 concerning the administrative file relating to the registration of limited payment institutions and limited e-money institutions.

PHILIPPE

By the King:
The Minister of Finance,
J. VAN OVERTVELDT