(3)For the purposes of this Directive, electronic money can be considered an electronic surrogate for coins and banknotes, which is stored on an electronic device such as a chip card or computer memory and which is generally intended for the purpose of effecting electronic payments of limited amounts.
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New version applies from 30/04/2011 — introduced by Directive 2009/110/EC.
32 provisions change.
Recital 3 is deleted from 30/04/2011.