Amendments to Directive 2006/48/EC
Article 20
Directive 2006/48/EC is hereby amended as follows: 1. Article 4 is amended as following: (a) point 1 is replaced by the following: ‘1. “credit institution” means an undertaking the business of which is to receive deposits or other repayable funds from the public and to grant credits for its own account;’ (b) point 5 is replaced by the following: ‘5. “financial institution” means an undertaking other than a credit institution, the principal activity of which is to acquire holdings or to pursue one or more of the activities listed in points 2 to 12 and 15 of Annex I.’; 2. the following point is added to Annex I: ‘15. Issuing electronic money.’.