Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 30 April 2011 - onwards
  Version 3 of 3    

Regulation 35 Removal of agents from the register

(1) The Authority may remove an agent of an electronic money institution from the register where -

(a) the institution requests, or consents to, the agent's removal from the register;

(b) the institution has obtained registration through false statements or any other irregular means;

(c) regulation 34(6)(b) or (c) applies;

(d) the removal is desirable in order to protect the interests of consumers; or

(e) the agent's provision of payment services is otherwise unlawful.

(2) Where the Authority proposes to remove an agent from the register, other than at the request of the institution, it must give the institution a warning notice.

(3) The Authority must, having considered any representations made in response to the warning notice -

(a) if it decides to remove the agent, give the institution a decision notice; or

(b) if it decides not to remove the agent, give the institution notice of its decision.

(4) If the Authority decides to remove the agent, other than at the request of the instit

Comparing proposed amendment...