Article 13 — Withdrawal of authorisation
- The competent authorities may withdraw an authorisation issued to a payment institution only if the institution:
- 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;
- has obtained the authorisation through false statements or any other irregular means;
- no longer meets the conditions for granting the authorisation or fails to inform the competent authority on major developments in this respect;
- would constitute a threat to the stability of or the trust in the payment system by continuing its payment services business; or
- falls within one of the other cases where national law provides for withdrawal of an authorisation.
- The competent authority shall give reasons for any withdrawal of an authorisation and shall inform those concerned accordingly.
- The competent authority shall make public the withdrawal of an authorisation, including in the registers referred to in Articles 14 and 15.