27. Consistently with paragraph 26, competent authorities may only apply conditions precedent …

Consistently with paragraph 26, competent authorities may only apply conditions precedent relating to formal and non-substantive aspects of authorisation requirements, which in practice may only be satisfied by the applicant credit institution after the competent authority’s positive assessment of the fulfilment in substance of all authorisation requirements. By way of illustration, formal or non-substantive aspects of the authorisation requirements may include, depending on the circumstances, the submission of a piece of documentation formally adopted by the applicant, or the formal finalisation of a procedure internal to the applicant, or ICT system tests to check their full functioning in practice.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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