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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 4 November 2014 - onwards
Version 6 of 6

9. Grant of licences.

(1) Subject to sections 9H to 9J, the Bank shall, either -

(a) if it is satisfied that the conditions referred to in sections 9D to 9G have been complied with, take a draft decision to propose to the ECB to grant a licence to a person applying to it for the grant thereof authorising the holder to carry on banking business, or

(b) if it is not so satisfied, reject the application.

(1A) [deleted]

(2) [deleted]

(3) [deleted]

(4) An application for a licence shall be in such form and contain such particulars as the Bank may from time to time determine.

(5) The grant of a licence to a person shall not constitute a warranty as to the solvency of the person to whom it is granted and the Bank shall not be liable in respect of any losses incurred through the insolvency or default of a person to whom a licence is granted.

(6) [deleted]