PART 2REGISTRATION
Authorisation
Imposition of requirements7
1
The Authority may include in an authorisation such requirements as it considers appropriate.
2
A requirement may, in particular, be imposed so as to require the person concerned to—
a
take a specified action;
b
refrain from taking a specified action.
3
A requirement may be imposed by reference to the person's relationship with its group or other members of its group.
4
Where—
a
an applicant intends to carry on business activities other than the issuance of electronic money and provision of payment services; and
b
the Authority considers that the carrying on of such other business activities will impair, or is likely to impair—
i
the financial soundness of the applicant; or
ii
the Authority's effective supervision of the applicant,
the Authority may require the applicant to establish a separate body corporate to carry on the issuance of electronic money and provision of payment services.
5
A requirement expires at the end of such period as the Authority may specify in the authorisation.
6
Paragraph (5) does not affect the Authority's powers under regulation 8 or 11.