(1) An electronic money issuer or payment service provider who intends to introduce a material Change or enhancement in the electronic money issuance or provision of payment service shall

(a) seek the approval of the Bank of Ghana, and

(b) give notice in writing to the Bank of Ghana thirty days before the proposed implementation of the change or enhancement.

(2) An electronic money issuer or payment service provider shall seek the prior approval of the Bank of Ghana where the electronic money issuer or payment service provider intends to

(a) transfer more than fifteen per cent of the shares in the electronic money or payment service business; or

(b) introduce material changes in the payment service that alters the scope of the service, including new service capabilities or a change in technology service provider.