The Payment Services Regulations 2017, Cross Heading: Provision for start-up payment institutions is up to date with all changes known to be in force on or before 05 May 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
7. If an authorised payment institution has not completed a full financial year's business, references to a figure for the preceding financial year are to be read as the equivalent figure projected in the business plan provided in the payment institution's application for authorisation, subject to any adjustment to that plan required by the FCA.U.K.
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