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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 30 April 2011 - onwards
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Regulation 41 Assessment of proposed acquisitions

(1) The objective of the assessment of a proposed acquisition is to ensure the sound and prudent management of the electronic money institution concerned.

(2) In assessing a proposed acquisition, the Bank -

(a) shall have regard to the likely influence of the proposed acquirer concerned on the electronic money institution concerned, and

(b) shall appraise the suitability of the proposed acquirer and the financial soundness of the proposed acquisition concerned against all of the following criteria:

(i) the reputation of the proposed acquirer;

(ii) the reputation and experience of the individuals who will direct the business of the institution as a result of the proposed acquisition;

(iii) the financial soundness of the proposed acquirer, in particular in relation to the type of business pursued and envisaged in the institution;

(iv) whether the institution will be able to comply and continue to comply with the prudential requirements of existing legislation;

(v) whether the group of wh

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