Cap. 647 чл. 25Notification of the redemption plan. Cap. 371.  Cap. 376.

(1) For the purposes of this article, "issuer of an e-money

 token" means an issuer of an e-money token which is licensed as a credit institution under the Banking Act or as a financial institution authorised to issue electronic money under the Financial Institutions Act.

(2) The issuer of an e-money token shall notify the redemption plan drawn up in accordance with Article 47(1) and (2) of the MiCA Regulation, as applicable pursuant to Article 55 of the said Regulation, to the competent authority within six (6) months of the date of the offer to the public or admission to trading of the e-money token.

(3) The competent authority shall require amendments to the redemption plan referred to in sub-article (2) where necessary to ensure its proper implementation and shall notify its decision requesting those amendments to the issuer of the e-money token within forty (40) working days of the date of notification of such plan.

(4) The decision of the competent authority referred to in sub-article (3) shall be implemented by the issuer of the e-money token within forty (40) working days of the date of notification of such decision.

(5) The issuer of the e-money token shall regularly review and update the redemption plan.