The Treasury consulted in October 2001 on its proposals for implementing the Electronic Money Directive into UK law. These proposals were revised in light of consultation responses and one statutory instrument - The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 - was made and laid before Parliament on 14 March 2002. This SI was accompanied by an Explanatory Memorandum, a Regulatory Impact Assessment and a Transposition Note. At the same time the Treasury published a response document, explaining the changes made to its original proposals and including a summary of representations received. A second SI - The Electronic Money (Miscellaneous Amendments) Regulations 2002 - was made and laid before Parliament on 21 March 2002 . These documents are all available on this website. The new regime for e-money schemes comes into force on 27 April 2002.
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