SCHEDULE 2Capital Requirements
PART 2Own funds
Method A
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1
“Method A” means the calculation method set out in this paragraph.
2
The own funds requirement is 10% of the authorised electronic money institution's fixed overheads for the preceding financial year.
3
If a material change has occurred in an authorised electronic money institution's business since the preceding financial year, the Authority may direct that the own funds requirement is to be a higher or lower amount than that calculated in accordance with sub-paragraph (2).