Surrender of payment service provider authorisation requires prescribed application, regulatory satisfaction, protective conditions, and an effective cessation date.

A Payment Service Provider may apply to the Authority for surrender of authorisation in accordance with the conditions and format prescribed in Schedule III. Permission depends on satisfaction that surrender is unlikely to materially adversely affect the IFSC financial ecosystem or Payment Service Users' interests. Surrender may be permitted subject to appropriate conditions, and a written order may specify the date from which authorisation ceases to have effect.

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