Section 37(1)

Where it becomes apparent to an electronic money institution that there is, or is likely to be, a significant change in circumstances which is relevant to— it must provide the Authority with details of the change without undue delay, or, in the case of a substantial change in circumstance which has not yet taken place, details of the likely change a reasonable period before it takes place. in the case of an authorised electronic money institution, its fulfilment of any of the conditions set out in regulation 6(4) to (8) or the requirement in regulation 19(1) to maintain own funds; in the case of a small electronic money institution, its fulfilment of any of the conditions set out in regulation 8(2) (as applied by regulation 15); or in the case of the use of an agent to provide payment services, the matters referred to in regulation 34(6)(b) and (c),

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