French Monetary and Financial Code
In forceI. - By way of derogation from article L. 525-3, a provider of electronic communications networks or services may issue and manage electronic money, in addition to electronic communications services, for a subscriber to the network or service, for the execution of:
1° Payment transactions carried out for the purchase of digital content and voice services, regardless of the device used for the purchase or consumption of such digital content, and charged to the corresponding invoice ;
2° Payment transactions carried out from or by means of an electronic device and charged to the corresponding invoice, in connection with the collection of donations by organisations making public appeals for donations, within the meaning of law no. 91-772 of 7 August 1991 relating to representation leave for associations and mutual societies and to the auditing of the accounts of organisations making public appeals for donations, by religious associations and by public establishments of recognised religious denominations in Alsace-Moselle ;
3° Payment transactions carried out from or by means of an electronic device and charged to the corresponding invoice for the purchase of electronic tickets.
The value of each individual payment transaction may not exceed €50.
The cumulative monthly value of payment transactions for a single subscriber may not exceed €300. In the case of a subscription taken out for professional purposes, this amount is assessed at end-user level.
This I also applies when a subscriber pre-finances his account with the provider of electronic communications networks or services.
II. - Before commencing the activities mentioned in I, the provider of electronic communications networks or services shall send a declaration containing a description of the services offered to the Autorité de contrôle prudentiel et de résolution, which shall have a period of three months from receipt of this declaration to notify the declarant that the conditions mentioned in I are not fulfilled.
The provider of electronic communications networks or services shall send the Autorité de contrôle prudentiel et de résolution an annual report justifying compliance with the conditions referred to in I above.
As soon as the provider of electronic communications networks or services anticipates that it will no longer meet the conditions referred to in I, it shall submit an application for authorisation to the Autorité de contrôle prudentiel et de résolution pursuant to Article L. 526-7.
When the Autorité de contrôle prudentiel et de résolution notifies a provider of electronic communications networks or services that the conditions referred to in I of this article are no longer met, the provider has three months to take the necessary measures to comply with the aforementioned conditions or to submit an application for authorisation to the Autorité de contrôle prudentiel et de résolution pursuant to Article L. 526-7.
As long as the Autorité de contrôle prudentiel et de résolution has not ruled on the granting of authorisation, the provider of electronic communications networks or services shall ensure that it complies with the conditions laid down in I of this article.
