Subject to the remainder of this Article, the provider of a Limited Network Service must register with SAMA as a provider of a Limited Network Service in the manner designated by SAMA.
(2)
A registered Provider of a Limited Network Service-with SAMA- must notify SAMA immediately if its execution of transactions within the context of a Limited Network Service exceeds (or will likely be expected to exceed) the aggregate value of five million SAR in any period of twelve consecutive calendar months, or the value of two million SAR in any month in that twelve-month period.
(3)
The notification to SAMA must include a description of Limited Network Service provider services and its reasons for categorizing the relevant transactions as a Limited Network Service.
(4)
Notifications and information provided to SAMA under Paragraph (2) of this Article must be given within such time and in such form as SAMA may direct after the end of the relevant month or period of twelve months.
(5)
A Person to which this Article applies may be required by SAMA to apply for a License.
