1. A Licensed Financial Institution shall submit an application to the Central Bank for authorization of any individual to undertake any of the Designated Functions or to undertake additional Designated Functions. 2. The Central Bank may require the applicant to provide all information necessary for enabling it to decide on the application. 3. A Licensed Financial Institution shall notify the Central Bank of any material changes relating to the conditions for granting authorization to undertake the Designated Functions.
Interpretation and application must be checked against the official text and current version.