TITLE II

PAYMENT SERVICE PROVIDERS
CHAPTER 1

Payment institutions
Section 1

General rules

Applications for authorisation
Article 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Initial capital
Article 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Own funds
Article 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Calculation of own funds
Article 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Safeguarding requirements
Article 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Granting of authorisation
Article 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Communication of the decision
Article 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Withdrawal of authorisation
Article 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Registration
Article 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Maintenance of authorisation
Article 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Accounting and statutory audit
Article 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Activities
Article 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 2

Other requirements

Use of agents, branches or entities to which activities are outsourced
Article 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Liability
Article 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Record-keeping
Article 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 3

Competent authorities and supervision

Designation of competent authorities
Article 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Supervision
Article 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Professional secrecy
Article 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Right to apply to the courts
Article 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Exchange of information
Article 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Exercise of the right of establishment and freedom to provide services
Article 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 4

Waiver

Conditions
Article 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Notification and information
Article 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 2

Common provisions

Access to payment systems
Article 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Prohibition for persons other than payment service providers to provide payment services
Article 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Repealed by Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (Text with EEA relevance).