+Article 3 4

Article 3 4

4.   A decision adopted under paragraph 3 shall remain in force until it has been repealed. Verification reviews of payment systems that have been identified as SIPS shall be carried out on an annual basis to verify that the payment systems continue to meet the criteria for being identified as SIPS. A decision adopted pursuant to paragraph 3 shall be repealed if:

(a)

in two consecutive verification reviews it is verified that a SIPS has not met the criteria set out in paragraph 1 and/or paragraph 2; or

(b)

in one verification review it is verified that a SIPS has not met the criteria set out in paragraph 1 and/or paragraph 2 and the SIPS operator demonstrates, to the satisfaction of the Governing Council, that the SIPS is unlikely to meet those criteria prior to the next verification review.

1. Resumen

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1.1 Referencias

1.2 Requisitos identificados

1.3 Estándares relacionados

2. Requisitos identificados

Requisitos

3. Estándares relacionados

Estándares