Cap. 590 чл. 64Further transitory provisions relating to applications for a licence.  

(1) When a person has submitted, through a VFA agent, an application as referred to in article 14 prior to the first date of coming into force of the Virtual Financial Assets (Amendment) Act, 2024 and the competent authority has not yet determined, in terms of article 15, whether to grant or refuse the licence being applied for by such date, the said person shall notify the competent authority, in writing, whether they shall proceed with that application or whether they shall withdraw the said application: Provided that, when such person does not notify the competent authority in accordance with this sub-article within one (1)

month from the first date of coming into force of the Virtual Financial

Assets (Amendment) Act, 2024, the competent authority shall deem the application submitted by that person to have been withdrawn.

(2) Notwithstanding the provisions of this Act, and any regulations made, and rules issued thereunder, applications as referred to in article 14 may not be submitted to, and in any case shall not be accepted by, the competent authority as from 1st August 2024.