In-principle approval for payment-system authorisation imposes statutory and additional conditions without independently conferring entitlement to authorisation.

In-principle approval for payment-system authorisation may be issued following consideration of an authorisation application. Such approval requires the applicant to satisfy the statutory conditions for authorisation prescribed by the governing Act and any further conditions stipulated by the Authority. It remains preliminary in character and does not, by itself, confer an entitlement to authorisation.

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