Book traversal links for Article (19): Use of Agents
Article (19): Use of Agents
2/2024 Effective from 21/8/20241. | Where a Licensee intends to perform Payment Token Services through an Agent, it must conduct an assessment of such arrangement and provide a report to the Central Bank of the following:
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2. | The Central Bank shall assess the suitability of a proposed Agent and Agent arrangements based on the report submitted under Article (19)1, and may require the Licensee to supply additional information for its assessment.
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3. | Licensees shall contractually ensure that Agents acting on their behalf disclose this fact to Customers. | ||||||||||
4. | Licensees shall:
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5. | The Central Bank may suspend, withdraw or revoke its approval of an Agent. Where the approval of an Agent is suspended, withdrawn or revoked, the Licensee must ensure that the Agent immediately ceases to perform Payment Token Services on the Licensee’s behalf. | ||||||||||
6. | Licensees shall be responsible for ensuring and maintaining appropriate training and qualifications for their Agents. | ||||||||||
7. | A Payment Token Service performed by an Agent shall be treated as performed by its principal Licensees. |