Refusal of application to register

(1) The supervisory authority may refuse an application for registration if– (a) the application does not comply with regulation 5(3); (b) the applicant fails to provide any information or documents required by the supervisory authority under regulation 5(4); (c) the supervisory authority is of the opinion that, in the case of an applicant for registration that Money Laundering and Terrorism (Prevention) 19 is not licensed or regulated, the applicant does not, or does not intend to, carry on the relevant business for which it seeks registration; (d) any of the applicant’s directors, senior officers or owners, or their associates, have committed an offence which constitutes serious crime; (e) the applicant, having previously been registered under these Regulations, has been de-registered under regulation 8. (2) The supervisory authority shall refuse an application for registration if it is of the opinion that– (a) the applicant does not, or on registration will not, have the capacity or willingness to comply with its AML/CFT obligations or to identify, mitigate and manage the money laundering and terrorism financing risks to which it is exposed; (b) the reporting entity, or its business, represents a significant money laundering or terrorist financing risk; or (c) it is contrary to the public interest for the applicant to be registered. (3) If the supervisory authority refuses an application for registration, it shall send the applicant a written notice of refusal, stating the grounds for its refusal. Money Laundering and 20 Terrorism (Prevention)