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AI Summary of Article 42 Content of the assessment of proposed acquisitions of issuers of asset-referenced tokens
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Article 42 Content of the assessment of proposed acquisitions of issuers of asset-referenced tokens
1. When performing the assessment referred to in Article 41(4), the competent authority shall appraise the suitability of the proposed acquirer and the financial soundness of the proposed acquisition referred to in Article 41(1) against all of the following criteria:
(a) the reputation of the proposed acquirer;
(b) the reputation, knowledge, skills and experience of any person who will direct the business of the issuer of the asset-referenced token as a result of the proposed acquisition;
(c) the financial soundness of the proposed acquirer, in particular in relation to the type of business envisaged and pursued in respect of the issuer of the asset-referenced token in which the acquisition is proposed;
(d) whether the issuer of the asset-referenced token will be able to comply and continue to comply with the provisions of this Title;