TITLE II AUTHORISATION AND OPERATING CONDITIONS FOR INVESTMENT FIRMS Chapter 1 CONDITIONS AND PROCEDURES FOR AUTHORISATION Article 4 Requirement for authorisation 1 .

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The procedure for obtaining authorisation to use the AL mode , set out in Article 25 ( 4 ) and ( 5 ) , shall apply mutatis mutandis to the procedure for obtaining authorisation to use the CAI mode .

Derogations by authorisation The new Article 4 concerning derogations by authorisation does not provide for any procedure by which economic operators may request such derogation from the protective provisions laid down in Article 2 .

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The procedure for obtaining authorisation to use the AL mode , set out in Article 25 ( 4 ) and ( 5 ) , shall apply mutatis mutandis to the procedure for obtaining authorisation to use the CAI mode .

Breakdown Commitment appropriation

The ECB suggests that the Commission could adopt implementing measures via a comitology procedure to specify when and to whom a withdrawal of authorisation should be announced .

To ensure coherence those criteria should be consistent with the criteria applied in relation to shareholders and management in the initial authorisation procedure .

Operating conditions and initial authorisation

Reasons shall be given whenever an authorisation is refused .

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The new license for payment institutions will also transpose Special Recommendation VI of the OECD Financial Action Task Force in a uniform way .

Greece, and the conditions under which a Temporary Residence Card for them would be issued and renewed. The second Decree will specify the conditions under which the holder of the Temporary Residence Card may obtain a Residence Card of Limited Duration, renew it and obtain a Card of Long Duration.

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Article 4 Requirement for authorisation 1 .

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Comitology

Test procedure

Commitment appropriation

no longer fulfils the conditions under which authorisation was granted

Third , it may also be argued that the authorisation procedure laid down in the proposed directive is based on criteria which leave too much room for different interpretations at national level .

In some instances , framework principles are already formulated in a very detailed manner ( e.g. the provisions concerning the conditions and procedures for authorisation in Title II Chapter I ) .

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Date of first authorisation

56 Date of first authorisation

68 Date of first authorisation

80 Date of first authorisation

Total Operational expenditure20 Commitment Appropriations ( CA ) Payment Appropriations ( PA ) 8.1 a

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AMENDMENT OF THE STATUTE AND COMPLEMENTARY RULES