Finance (Provision of Access to Cash Infrastructure) Act 2025
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Grant and refusal of applications for registration | ||
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18. (1) The Bank may refuse an application for registration only if— | ||
(a) the application does not comply with the requirements of section 17 (2), | ||
(b) the applicant does not comply with a notice given under section 17 (3), | ||
(c) the Bank has reasonable grounds to be satisfied that information given to the Bank by the applicant in connection with the application is false or misleading in any material particular, | ||
(d) the applicant has failed to satisfy the Bank that it has in place the resources, procedures and arrangements for the carrying on of the business of an ATM deployer or CIT provider, as the case may be, and the performance of activities relating to that business, taking into account the nature, scale and complexity of its business and the obligations imposed on an ATM deployer or CIT provider, as the case may be, by or under this Act, | ||
(e) the applicant has failed to satisfy the Bank that the applicant would, if registered, comply with the following: | ||
(i) in the case where the applicant is a CIT provider, any condition that the Bank would have imposed under section 19 on the registration concerned, if the Bank had granted the application; | ||
(ii) in the case where the applicant is an ATM deployer, any prescribed requirement; | ||
(iii) any other obligation imposed on the applicant by or under this Act, | ||
(f) where the applicant is a body corporate, the body corporate is being wound up, | ||
(g) where the applicant is a partnership, the partnership is dissolved by the death or bankruptcy of a partner or because of the operation of a provision of the Partnership Act 1890 or otherwise, | ||
(h) where the applicant is a natural person, such person is an undischarged bankrupt, or | ||
(i) there are objective and demonstrable grounds for believing that the management body of the applicant may pose a threat to its sound and prudent management and to the best interests of its customers and the integrity of the market. | ||
(2) If the Bank proposes to refuse an application for registration, it shall give to the applicant a notice— | ||
(a) specifying the grounds on which it is proposed to refuse the application, and | ||
(b) informing the applicant that the applicant may, within 21 days after the giving of the notice, make representations in writing to the Bank showing why the Bank should grant the application. | ||
(3) Not later than 21 days after a notice is given to an applicant under subsection (2), the applicant may make representations in writing to the Bank showing why the Bank should grant the application for registration. | ||
(4) The Bank may decide to refuse an application for registration after having considered any representations made by the applicant in accordance with subsection (3). | ||
(5) As soon as practicable after deciding to refuse an application for registration under this section, the Bank shall give a notice of the decision to the applicant, and the notice shall include a statement setting out the reasons for that decision. | ||
(6) A decision of the Bank to refuse an application for registration is an appealable decision for the purposes of Part VIIA of the Act of 1942. | ||
(7) If the Bank does not refuse the application for registration, it shall grant it and, on granting the application, the Bank shall— | ||
(a) record the particulars of the applicant, referred to in subsection (2), in the Register of ATM deployers or the Register of CIT providers, as the case may be, and | ||
(b) give the applicant notice of confirmation of registration as an ATM deployer or CIT provider, as the case may be. |