Related Commentary  

14(1)  This regulation specifies the circumstances (“qualifying circumstances”) in which a person may be approved by the Board as an account provider.

14(2)  The qualifying circumstances are the following–

(a)the person must make an application to the Board for approval in a form specified by the Board;

(b)the person must undertake with the Board–

(i)to either offer stakeholder accounts to the general public (whether or not accounts of another description are offered), or to fulfil the requirements in paragraph (3),

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