1. The competent authorities may withdraw an authorisation issued to a payment institution only if the institution:
(a) does not make use of the authorisation
within 12 months, expressly renounces the authorisation or has ceased to
engage in business for more than 6 months, if the Member State
concerned has made no provision for the authorisation to lapse in such
(b) has obtained the authorisation through false statements or any other irregular means;
(c) no longer meets the conditions for
granting the authorisation or fails to inform the competent authority on
major developments in this respect;
(d) would constitute a threat to the stability of or the trust in the payment system by continuing its payment services business; or
(e) falls within one of the other cases where national law provides for withdrawal of an authorisation.
2. The competent authority shall give reasons for
any withdrawal of an authorisation and shall inform those concerned
3. The competent authority shall make public the
withdrawal of an authorisation, including in the registers referred to
in Articles 14 and 15.