Section 7(4)

Where— 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. an applicant intends to carry on business activities other than the issuance of electronic money and provision of payment services; and the Authority considers that the carrying on of such other business activities will impair, or is likely to impair— the financial soundness of the applicant; or the Authority's effective supervision of the applicant,

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