(b)

the members of the applicant’s management or administrative organ are of sufficiently good repute, which is demonstrated by proving that: they have a clean police record or other national equivalent in relation to relevant criminal offences, in particular those relating to property, financial services and activities, money laundering, usury, fraud, tax crimes, violation of professional secrecy or to physical integrity, and also in relation to any other offences under laws relating to companies, bankruptcy, insolvency or consumer protection; the cumulative effects of minor incidents do not impinge on their good repute; they have always been transparent, open and cooperative in their past business dealings with supervisory and regulatory authorities; they are not subject to any ongoing insolvency procedure nor have previously been declared bankrupt unless reinstated in accordance with national law;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.