Surrender of payment service authorisation is assessed with closure safeguards, liability repayment, audit certification, and certificate cancellation.

An operating Payment Service Provider seeking surrender of authorisation must provide a Board-approved written request, a Chartered Accountant's certificate of customer accounts, escrow balances and liabilities, a liability-extinguishment plan, and an undertaking not to incur fresh liabilities. The Authority may require customer public notices and monthly progress reports. Following extinguishment of liabilities, a no-liability certificate and the original Certificate of Authorisation must be submitted for cancellation. Non-operational providers must establish non-commencement through a Chartered Accountant's certificate and provide their latest audited balance sheet.

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