(1) A person may operate as a SPRV in the State only in accordance with a SPRV authorisation granted by the Bank or by a competent authority of another Member State.
(2) A person who operates as a SPRV in contravention of paragraph (1) commits an offence.
(3) If a person is found guilty of an offence under paragraph (2), the Bank shall take all reasonably practicable measures to ensure that the person ceases to operate as a SPRV within the State and within every other Member State.