CHAPTER 11

REQUIREMENTS FOR ESTABLISHMENT AND SUPERVISION OF CREDIT INTERMEDIARIES AND APPOINTED REPRESENTATIVES

Withdrawal of admission of credit intermediaries
Article 33
1
The competent authority of the home Member State may withdraw the admission granted to a credit intermediary in accordance with Article 29 where such a credit intermediary:
a
expressly renounces the admission or has carried out neither credit intermediation activities set out in point 5 of Article 4 nor provided advisory services for the preceding six months, unless the Member State concerned has provided for admission to lapse in such cases;
b
has obtained the admission through false or misleading statements or any other irregular means;
c
no longer fulfils the requirements under which admission was granted;
d
falls within any of the cases where national law, in respect of matters outside the scope of this Directive, provides for withdrawal;
e
has seriously or systematically infringed the provisions adopted pursuant to this Directive governing the operating conditions for credit intermediaries.
2
Where the admission of a credit intermediary is withdrawn by the competent authority of the home Member State, the latter shall notify the competent authorities of the host Member States of such withdrawal as soon as possible and at the latest within 14 days, by any appropriate means.
3
Member States shall ensure that credit intermediaries whose admission has been withdrawn are deleted from the register without undue delay.