(1) The FCA may include in an authorisation such requirements as it considers appropriate.
(2) A requirement may, in particular, be imposed so as to require the person concerned to -
(a) take a specified action;
(b) refrain from taking a specified action.
(3) A requirement may be imposed by reference to the person's relationship with its group or other members of its group.
(4) Where -
(a) an applicant for authorisation as a payment institution intends to carry on business activities other than the provision of payment services; and
(b) the FCA considers that the carrying on of such other business activities will impair, or is likely to impair -
(i) the financial soundness of the applicant, or
(ii) the FCA's effective supervision of the applicant,
the FCA may require the applicant to establish a separate body corporate to carry on the payment service business.
(5) A requirement expires at the end of such period as the FCA may specify in the authorisation.
(6) Paragraph (5) does not aff
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