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The Payment Services Regulations 2009
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Changes and effects yet to be applied to Regulation 9:
- Regulations applied by S.I. 2015/2038 reg. 26
- Regulations applied (with modifications) by S.I. 2011/245 Sch. 6 Pt. 1
- Regulations functions modified by S.I. 2013/161 art. 5 6(1)(c)(ii)
- Regulations power to modify conferred by 2023 c. 29 s. 3 Sch. 1 Pt. 2
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
- Regulations revoked in part by S.I. 2017/752 Sch. 9
- reg. 9(9) words substituted by S.I. 2010/22 Sch. 3 para. 180
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- Sch. 3 para. 19(a)(b) words substituted by S.I. 2012/1741 Sch. para. 11
- Sch. 5 para. 2(za) inserted by S.I. 2013/472 Sch. 2 para. 155(6)(b)(ii)
- Sch. 5 para. 3(ba) inserted by S.I. 2013/472 Sch. 2 para. 155(6)(c)(iii)
- Sch. 5 para. 3(c)(iiia) inserted by S.I. 2013/472 Sch. 2 para. 155(6)(c)(v)
- Sch. 5 para. 10(a)(iv) inserted by S.I. 2015/1911 reg. 17(3)(b)
- Sch. 5 para. 3(c)(i)(aa) omitted by S.I. 2013/472 Sch. 2 para. 155(6)(c)(iv)
- Sch. 5 para. 2(a)(b) and word substituted by S.I. 2010/22 Sch. 3 para. 189(c)
- Sch. 5 para. 3(d)(i)(aa) substituted by S.I. 2013/472 Sch. 2 para. 155(6)(c)(vi)
- Sch. 5 para. 3(d)(i)(bb) word substituted by S.I. 2013/472 Sch. 2 para. 155(6)(c)(vii)
- Sch. 5 para. 5(a)(iii)(bb) words substituted by S.I. 2013/472 Sch. 2 para. 155(6)(e)(iii)
- Sch. 7 inserted by S.I. 2009/2475 reg. 13
- reg. 10A inserted by S.I. 2009/2475 reg. 3
- reg. 13(4)(da) inserted by S.I. 2009/1912 reg. 4
- reg. 13(4)(da) substituted by 2010 c. 38 Sch. 1 para. 8(b)
- reg. 13(4A)-(4D) inserted by S.I. 2012/1791 reg. 3(2)
- reg. 29(3)(a)(ii)(aa) words substituted by S.I. 2017/692 Sch. 7 para. 24(6)(a)
- reg. 52(e) inserted by S.I. 2010/1010 reg. 97(b)
- reg. 80A inserted by S.I. 2015/1911 reg. 17(2)
- reg. 92(2)-(5) substituted for reg. 92(2) by S.I. 2013/429 reg. 2(4)
- reg. 109A inserted by S.I. 2015/422 reg. 2(6)
- reg. 110(1)(d)-(i) substituted for reg. 110(1)(d)(e) by S.I. 2009/2475 reg. 11
- reg. 125A inserted by S.I. 2012/1791 reg. 3(5)
- reg. 125B inserted by S.I. 2013/472 Sch. 2 para. 155(5)
- reg. 127 inserted by S.I. 2009/2475 reg. 12
Determination of application for authorisation or variation of authorisationU.K.
This section has no associated Explanatory Memorandum
9.—(1) The Authority must determine an application for authorisation or the variation of an authorisation before the end of the period of three months beginning with the date on which it received the completed application.
(2) The Authority may determine an incomplete application if it considers it appropriate to do so, and it must in any event determine any such application within 12 months beginning with the date on which it received the application.
(3) The applicant may withdraw its application, by giving the Authority notice, at any time before the Authority determines it.
(4) The Authority may grant authorisation to carry out the payment services to which the application relates or such of them as may be specified in the grant of the authorisation.
(5) If the Authority decides to grant an application for authorisation, or for the variation of an authorisation, it must give the applicant notice of its decision specifying—
(a)the payment services for which authorisation has been granted; or
(b)the variation granted,
described in such manner as the Authority considers appropriate.
(6) The notice must state the date on which the authorisation or variation takes effect.
(7) If the Authority proposes to refuse an application or to impose a requirement it must give the applicant a warning notice.
(8) The Authority must, having considered any representations made in response to the warning notice—
(a)if it decides to refuse the application or to impose a requirement, give the applicant a decision notice; or
(b)if it grants the application without imposing a requirement, give the applicant notice of its decision, stating the date on which the authorisation or variation takes effect.
(9) If the Authority decides to refuse the application or to impose a requirement the applicant may refer the matter to the Tribunal.
(10) If the Authority decides to authorise the applicant, or vary its authorisation, it must update the register as soon as practicable.
Commencement Information
I1Reg. 9 comes into force in accordance with reg. 1(2)
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