# PSD3 Article 24 — Designation of competent authorities

Textual state: amended_substantial. 19 words changed

- Current text: Council final compromise text (Council document 8222/26) — not yet law.
- Compared against: COM(2023) 366 final — superseded.
- Classification is mechanical; method: https://paymentslaw.eu/method/
- Editorial review state: not_assessed. Markers are curated and selective, not a complete assessment.

Word-level diff, proposal → compromise: `{+text+}` was inserted, `[-text-]` was deleted.

## Paragraph 1

1. Member States shall designate as the competent authorities responsible for the authorisation and prudential supervision of payment institutions which are to carry out the duties provided for under this Title either public authorities, or bodies recognised by national law or by public authorities expressly empowered for that purpose by national law, including national central banks. Member States shall not designate payment institutions, credit institutions, or post office giro institutions as competent authorities. The competent authorities shall be independent from economic bodies and avoid conflicts of interest. Member States shall provide the Commission with the name and the contact details of the competent authority designated in accordance with the first subparagraph.

## Paragraph 2

2. Member States shall ensure that the competent authorities designated under paragraph 1 possess all powers necessary for the performance of their duties. Member States shall ensure that competent authorities have the necessary resources, notably in terms of dedicated staff, to exercise their tasks.

## Paragraph 3

3. Member States that have appointed more than one competent authority for matters covered by this [-Title, or that have appointed as competent authorities competent authorities that are responsible for the supervision of credit institutions, -]{+Title +}shall ensure that those authorities cooperate closely to discharge their respective duties effectively.

## Paragraph 4

4. The tasks of the competent authorities designated under paragraph 1 shall be the responsibility of the competent authorities of the home Member State.

## Paragraph 5

5. Paragraph 1 shall not imply that the competent authorities are required to supervise business activities of the payment institutions other than the provision of payment services and the activities referred to in Article 10(1), point (a).