In-principle approval for payment service providers remains conditional, discretionary, and subject to review following ownership or control changes.

In-principle approval for payment service provider authorisation may be issued where an application prima facie meets the conditions for authorisation, subject to conditions imposed before authorisation is granted. It does not create an automatic entitlement to authorisation. Changes in ownership or control must be notified and trigger review, with the outcome communicated to the applicant. Revocation following review requires a reasonable opportunity of hearing before a final decision.

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