125. Without prejudice to the above, in those jurisdictions where the portion of the capital …

Without prejudice to the above, in those jurisdictions where the portion of the capital indicated in letters a) or b) of paragraph 123 has to be paid up before commencing the activities as a credit institution, rather than before granting the authorisation, competent authorities, for the purpose of granting the authorisation, should carefully review the plan and the implementation deadline submitted by the applicant in accordance with Article 6(2) of the RTS on information for authorisation³⁴ in order to ensure that such a capital amount is paid up in full before commencing the activities as a credit institution and is of legitimate origin.

The competent authority should include an express condition in the authorisation, suspending the effects of the authorisation at least until the actual payment of the portions of the capital identified therein.

³⁴ ‘Where the initial capital has not been paid-up in full at the time of submitting the application to the competent authority, the application shall set out the envisaged plan and implementation deadline for ensuring that the initial capital is paid-up in full before authorisation to commence the activity of credit institutions’.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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