Article 55 Recovery and redemption plans

Summary What does Article 55 of the MiCA regulation say?

This article extends the recovery and redemption plan requirements from Title III, Chapter 6 — which primarily governs issuers of asset-referenced tokens — to issuers of e-money tokens.

It does so by applying those rules "mutatis mutandis," meaning with the necessary adaptations.

The article then carves out two specific timing derogations from Articles 46 and 47, setting a distinct deadline for e-money token issuers to notify their recovery and redemption plans to the competent authority.

Important points:

Issuers of e-money tokens must notify their recovery plan to the competent authority within six months of the date of the offer to the public or admission to trading.
Issuers of e-money tokens must notify their redemption plan to the competent authority within six months of the date of the offer to the public or admission to trading.
These timelines differ from those that apply to issuers of asset-referenced tokens under Articles 46 and 47.

Springlex's summary of the article, a reading aid, not a substitute for the legal text.

Title III, Chapter 6 shall apply mutatis mutandis to issuers of e-money tokens.
By way of derogation from Article 46(2), the date by which the recovery plan is to be notified to the competent authority shall, in respect of issuers of e-money tokens, be within six months of the date of the offer to the public or admission to trading.
By way of derogation from Article 47(3), the date by which the redemption plan is to be notified to the competent authority shall, in respect of issuers of e-money tokens, be within six months of the date of the offer to the public or admission to trading.

Table of contents

Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.

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