PART II SPECIFIED ACTIVITIES
F1CHAPTER IIA ELECTRONIC MONEY
Exclusions
Revocation of certificate on Authority’s own initiative9E
1
The Authority may revoke a certificate given to a person (“A”) under article 9C if—
a
it appears to it that A does not meet the relevant conditions, or has failed to meet the relevant conditions at any time since the certificate was given; or
b
the person to whom the certificate was given has contravened any rule or requirement to which he is subject as a result of article 9G.
2
For the purposes of paragraph (1), A meets the relevant conditions at any time if, at that time, paragraph (4), (5) or (6) of article 9C applies.
3
Sections 54 and 55(2) of the Act apply to the revocation of a certificate under paragraph (1) as they apply to the cancellation of a Part IV permission on the Authority’s own initiative, as if references in those sections to an authorised person were references to a certified person.
Pt. 2 Ch. 2A inserted (11.4.2002 for specified purposes, 27.4.2002 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2), 4 (with arts. 9, 10)