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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 13 January 2018 - onwards
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Regulation 10 Cancellation of authorisation

Revoked from 13 January 2018

(1) The Authority may cancel a person's authorisation and remove the person from the register where -

(a) the person does not provide payment services within 12 months beginning with the date on which the authorisation took effect;

(b) the person requests, or consents to, the cancellation of the authorisation;

(c) the person ceases to engage in business activity for more than six months;

(d) the person has obtained authorisation through false statements or any other irregular means;

(e) the person no longer meets, or is unlikely to continue to meet, any of the conditions set out in regulation 6(4) to (8) or, if applicable, the requirement in regulation 18(1) to maintain own funds;

(f) the person has provided payment services other than in accordance with the authorisation granted to it;

(g) the person would constitute a threat to the stability of a payment system by continuing its payment services business;

(h) the cancellation is desirable in order to protect the interests of con

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