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On the taking up, pursuit of and prudential supervision of the business of electronic money institutions
Article 11

Article 11 — Review

Not later than 27 April 2005 the Commission shall present a report to the European Parliament and the Council on the application of this Directive, in particular on:

- the measures to protect the bearers of electronic money, including the possible need to introduce a guarantee scheme,

- capital requirements,

- waivers, and

- the possible need to prohibit interest being paid on funds received in exchange for electronic money,

accompanied where appropriate by a proposal for its revision.