Article 13 — Withdrawal of authorisation
Financial servicesLevel 1DirectivePSD2In forceIn force on the date shown, by the dates in the Official Journal.VerifiedIdentical to the official source.Official source
13(1)Copy link
1.The competent authorities may withdraw an authorisation issued to a payment institution only if the institution:
13(1)(a)
(a)does not make use of the authorisation within 12 months, expressly renounces the authorisation or has ceased to engage in business for more than 6 months, if the Member State concerned has made no provision for the authorisation to lapse in such cases;
Copy link13(1)(b)
(b)has obtained the authorisation through false statements or any other irregular means;
Copy link13(1)(c)
(c)no longer meets the conditions for granting the authorisation or fails to inform the competent authority on major developments in this respect;
Copy link13(1)(d)
(d)would constitute a threat to the stability of or the trust in the payment system by continuing its payment services business; or
Copy link13(1)(e)
(e)falls within one of the other cases where national law provides for withdrawal of an authorisation.
Copy link13(2)Copy link
2.The competent authority shall give reasons for any withdrawal of an authorisation and shall inform those concerned accordingly.
13(3)Copy link
3.The competent authority shall make public the withdrawal of an authorisation, including in the registers referred to in Articles 14 and 15.