Finance (Provision of Access to Cash Infrastructure) Act 2025

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Revocation of registration other than on application of holder

25. (1) The Bank may revoke a registration only if the Bank has reasonable grounds to be satisfied of one or more of the following:

(a) the holder has not commenced carrying on business as an ATM deployer or CIT provider within the period of 12 months after the date of the notice of confirmation of registration under section 18 (7);

(b) the holder has not carried on business as an ATM deployer or CIT provider for the immediately preceding period of 6 months;

(c) the registration was obtained by means of a false or misleading representation;

(d) the holder has contravened, or is contravening, any obligation imposed on ATM deployers or CIT providers under this Act;

(e) the holder has failed to satisfy the Bank—

(i) where the holder is a CIT provider, that the policies referred to in section 19 (1)(c), or

(ii) where the holder is an ATM deployer, that any procedures that are a prescribed requirement that the holder has in place,

are adequate or fit for purpose;

(f) the holder has contravened or is contravening any of the following:

(i) a direction under section 12 ;

(ii) where the holder is a CIT provider, any condition imposed under section 19 ;

(iii) any amendment to a registration under section 22 ;

(iv) a direction under section 27 ;

(v) where the holder is an ATM deployer, any prescribed requirement;

(vi) the obligation to retain records under section 33 ;

(vii) a direction under section 34 ;

(g) the holder is so structured, or the business of the holder is so organised, that the holder is not capable of being regulated under this Part;

(h) there are objective and demonstrable grounds for believing that the management body of the holder may pose a threat to its sound and prudent management and to the best interests of its customers and the integrity of the market;

(i) where the holder is a body corporate, the body corporate is being wound up;

(j) where the holder 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;

(k) where the holder is a natural person, the holder is declared bankrupt.

(2) If the Bank proposes to revoke a registration under this section, the Bank shall give to the holder a notice informing the holder of the Bank’s intention to revoke the registration.

(3) The notice shall—

(a) specify the grounds on which the Bank proposes to revoke the registration, and

(b) inform the holder that the holder may, within 21 days after the giving of the notice, make representations in writing to the Bank showing why the Bank should not revoke the registration.

(4) Not later than 21 days after a notice is given to the holder under subsection (2), the holder may make representations in writing to the Bank showing why the Bank should not revoke the registration.

(5) The Bank may decide to revoke the registration only after having considered any representations made by the holder in accordance with subsection (4).

(6) As soon as practicable after deciding to revoke a registration under this section, the Bank shall give notice of the decision to the person who was the holder, and the notice shall include a statement setting out the reasons for that decision.

(7) A decision of the Bank to revoke a registration under this section is an appealable decision for the purposes of Part VIIA of the Act of 1942.

(8) The revocation of a registration under this section takes effect from the date of the notice of the decision under subsection (6), or, if a later date is specified in the notice, from that date, whether or not an appeal against the decision is made by virtue of subsection (7).