• 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.