• PRU 3.6 PRU 3.6 Capital Requirements for Categories 3B, 3C and 4

    • PRU 3.6.1

      This Section applies to an Authorised Person in Category 3B, 3C or 4.

    • PRU 3.6.2 PRU 3.6.2

      Subject to Section 3.6A, the Capital Requirement for such an Authorised Person is calculated as the higher of:

      (a) the applicable Base Capital Requirement as set out in Section 3.3; or
      (b) the Expenditure Based Capital Minimum as set out in Section 3.7.

      • Guidance

        1. Section 3.6A specifies the Capital Requirements for Authorised Persons undertaking the Regulated Activity of Providing Money Services.
        2. The Expenditure Based Capital Minimum is a component of the calculation of the Capital Requirement under Section 3.6 and is relevant in determining whether the Regulator has to be notified under Rule 3.20.2.