1.   The competent authorities may withdraw an authorisation issued to a payment institution only if the institution:

(a) does not make use of the authorisation within 12 months, expressly renounces the authorisation or has ceased to engage in business for more than 6 months, if the Member State concerned has made no provision for the authorisation to lapse in such cases;

(b) has obtained the authorisation through false statements or any other irregular means;

(c) no longer meets the conditions for granting the authorisation or fails to inform the competent authority on major developments in this respect;

(d) would constitute a threat to the stability of or the trust in the payment system by continuing its payment services business; or

(e) falls within one of the other cases where national law provides for withdrawal of an authorisation.

2.   The competent authority shall give reasons for any withdrawal of an authorisation and shall inform those concerned accordingly.

3.   The competent authority shall make public the withdrawal of an authorisation, including in the registers referred to in Articles 14 and 15.