1. The competent authorities may withdraw an authorisation issued to a payment institution only where the institution:
(a) does not make use of the authorisation within 12 months, expressly renounces the authorisation or has ceased to engage in business for more than six months, if the Member State concerned has made no provision for the authorisation to lapse in such cases;
(b) has obtained the authorisation through false statements or any other irregular means;
(c) no longer fulfils the conditions for granting the authorisation;
(d) would constitute a threat to the stability of the payment system by continuing its payment services business; or
(e) falls within one of the other cases where national law provides for withdrawal of an authorisation.
2. Reasons shall be given for any withdrawal of an authorisation and those concerned shall be informed accordingly.
3. The withdrawal of an authorisation shall be made public.