Section 13(6)

The applicant must satisfy the Authority that, taking into account the need to ensure the sound and prudent conduct of the affairs of the institution, it has— which are comprehensive and proportionate to the nature, scale and complexity of electronic money to be issued and payment services to be provided by the institution. robust governance arrangements for its electronic money and payment services business, including a clear organisational structure with well-defined, transparent and consistent lines of responsibility; and effective procedures to identify, manage, monitor and report any risks to which it might be exposed,

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Source: legislation.gov.uk · retrieved 2026-09-04