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Case C-389/17: Judgment of the Court (First Chamber) of 16 January 2019 (request for a preliminary ruling from the Lietuvos vyriausiasis administracinis teismas — Lithuania) — Proceedings brought by ‘Paysera LT’ UAB, formerly ‘EVP International’ UAB (Reference for a preliminary ruling — Taking up of the business of electronic money institutions — Directive 2009/110/EC — Article 5(2) and (3) — Rules on own funds — Own funds required for the pursuit of activities linked to the issuance of electronic money — Definition of ‘activity linked to the issuance of electronic money’ — Issuance, for the benefit of the seller, of electronic money at par value of the funds received)
ECLI:EU:UNKNOWN:62017CA0389
62017CA0389
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Official Journal of the European Union
C 93/12
(Case C-389/17) (1)
((Reference for a preliminary ruling - Taking up of the business of electronic money institutions - Directive 2009/110/EC - Article 5(2) and (3) - Rules on own funds - Own funds required for the pursuit of activities linked to the issuance of electronic money - Definition of ‘activity linked to the issuance of electronic money’ - Issuance, for the benefit of the seller, of electronic money at par value of the funds received))
(2019/C 93/14)
Language of the case: Lithuanian
Referring court
Parties to the main proceedings
Applicant: ‘Paysera LT’ UAB, formerly ‘EVP International’ UAB
Other party: Lietuvos bankas
Operative part of the judgment
Article 5(2) of Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC, must be interpreted as meaning that services provided by electronic money institutions in payment transactions such as those at issue in the main proceedings constitute activities linked to the issuance of electronic money, within the meaning of that provision, if those services trigger the issuance or redemption of electronic money in a single payment transaction.
(1) OJ C 309, 18.9.2017.