4‑12 Additional requirements for applica4‑12 Additional requirements for application for registration as a remittance network provider, an independent remittance dealer or a remittance affiliate of network provider

4‑12 Additional requirements for application for registration as a remittance network provider, an independent remittance dealer or a remittance affiliate of network provider

If the application is for the candidate to be registered as a remittance network provider, an independent remittance dealer or a remittance affiliate of a registered remittance network provider, the application must contain the following information: (a) information on whether offsetting arrangements or third party remittance arrangements will be involved in the provision of the candidate’s registrable services; (b) details of the delivery channels by which the candidate’s registrable services will be provided; (c) information on the ways the candidate’s customers will, for transfers of value to which its registrable services relate, be able to make value available for transfer or receive value transferred; (d) information on the expected average number of designated services covered by each of items 29 and 30 of table 1 in section 6 of the Act that are registrable services the candidate would provide each month over the first 12 months following registration; (e) information on the expected average total monetary value of the money and property (but not virtual assets) that, in relation to designated services covered by each of items 29 and 30 of table 1 in section 6 of the Act that are registrable services it would provide, would be transferred per month over the first 12 months following registration.

Note: For additional requirements in relation to registration as a virtual asset service provider, see section 4‑14.