Updated 07/09/2024
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Article 7 - Procedure for authorisation of credit servicers

Article 7

Procedure for authorisation of credit servicers

1.   Member States shall establish a procedure for the authorisation of credit servicers that enables an applicant to submit an application and provide all the information necessary for the competent authority of the home Member State to verify that the applicant has satisfied all the conditions laid down in the national provisions transposing Article 5(1), and, where relevant, in Article 6(2), point (a).

2.   The application for authorisation of credit servicers referred to in paragraph 1 shall be accompanied by the following:

(a)

evidence of the applicant’s legal status and a copy of its act of incorporation and of the company by-laws;

(b)

the address of the applicant’s head office or its registered office;

(c)

the identity of the members of the applicant’s management or administrative organ and the persons who hold qualifying holdings within the meaning of Article 4(1), point (36), of Regulation (EU) No 575/2013;

(d)

evidence that the applicant fulfils the conditions laid down in Article 5(1), points (b) and (c);

(e)

evidence that the persons who hold qualifying holdings within the meaning of Article 4(1), point (36), of Regulation (EU) No 575/2013 fulfil the conditions laid down in Article 5(1), point (d), of this Directive;

(f)

evidence of the governance arrangements and internal control mechanisms referred to in Article 5(1), point (e);

(g)

evidence of the policy referred to in Article 5(1), point (f);

(h)

evidence of the internal procedures referred to in Article 5(1), point (g);

(i)

evidence of the procedures referred to in Article 5(1), point (h);

(j)

where relevant, evidence of the existence of a separate account in a credit institution as provided for in Article 6(2), point (a);

(k)

any outsourcing agreement as referred to in Article 12(1).

3.   Member States shall ensure that the competent authorities of a home Member State assess, within 45 days of receipt of the application for authorisation, whether that application is complete.

4.   Member States shall ensure that, within 90 days of receipt of a complete application or, if the application is considered incomplete, of receipt of the required information, the competent authorities of the home Member State notify the applicant whether the authorisation is granted or refused and provide reasons for refusal.

5.   Member States shall ensure that an applicant has the right of appeal before a tribunal in cases where the competent authorities of the home Member State decide to refuse an application for authorisation pursuant to Article 5(3) and also in cases where, within the time limit provided for in paragraph 4 of this Article, no decision is taken by the competent authorities in respect of the application.