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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 13 January 2018 - onwards
  Version 3 of 3    

Article 17 Use of agents, branches or entities to which activities are outsourced

Repealed from 13 January 2018

1. When a payment institution intends to provide payment services through an agent it shall communicate the following information to the competent authorities in its home Member State:

(a) the name and address of the agent;

(b) a description of the internal control mechanisms that will be used by agents in order to comply with the obligations in relation to money laundering and terrorist financing under Directive 2005/60/EC; and

(c) the identity of directors and persons responsible for the management of the agent to be used in the provision of payment services and evidence that they are fit and proper persons.

2. When the competent authorities receive the information in accordance with paragraph 1 then they may list the agent in the register provided for in Article 13.

3. Before listing the agent in the register, the competent authorities may, if they consider that the information provided to them is incorrect, take further action to verify the information.

4. If, after taking act

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