Regulation 16 Application for authorisation if requirements cease to be metF2
United Kingdom
Where a small electronic money institution ceases to comply with a condition F1in regulation 13(3), (4), (8) or (9), the institution concerned must, within 30 days of becoming aware of the change in circumstances, apply to become an authorised electronic money institution under regulation 5 if it intends to continue issuing electronic money in the United Kingdom.
Annotations
Textual amendments
- F1
Words in reg. 16 substituted (13.8.2017 for specified purposes, 13.10.2017 for specified purposes, 13.1.2018 in so far as not already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(c)(iii)(3)(f)(i)(6), Sch. 8 para. 5(12)(b) (with reg. 3)
- F2
Reg. 16 heading substituted (13.8.2017 for specified purposes, 13.10.2017 for specified purposes, 13.1.2018 in so far as not already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(c)(iii)(3)(f)(i)(6), Sch. 8 para. 5(12)(a) (with reg. 3)