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

Regulation 96 Supervision.

Revoked from 13 January 2018

(1) The Bank -

(a) may require a payment service provider to provide any information needed to monitor the institution's compliance with these Regulations,

(b) may carry out on-site inspections at -

(i) the premises of a payment service provider,

(ii) any agent or branch providing payment services under the responsibility of a payment service provider,

(iii) the premises of any entity to which a payment service provider's activities are outsourced, and

(iv) any premises at which payment services are, or are suspected of being, conducted,

and

(c) may issue recommendations and guidelines.

(2) The Bank may take steps to ensure that a payment institution maintains sufficient capital for payment services, in particular where the non-payment services activities of a payment institution impair or are likely to impair the financial soundness of the payment institution.

Comparing proposed amendment...