Fit and proper requirements govern payment service provider authorisation, with regulatory evaluation prevailing over an applicant's differing assessment.

Fit and proper requirements apply to applicants seeking authorisation as Payment Service Providers and to authorised Payment Service Providers. Directors, Key Managerial Personnel, and persons exercising control, collectively termed Relevant Persons, must meet the standards in Schedule II. The Authority may evaluate any Relevant Person during authorisation processing or later. Where its evaluation differs from that of an applicant or provider, the Authority's evaluation prevails.

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