Section 7(2) in The Payment And Settlement Systems Act, 2007
(2)An authorisation issued under sub-section (1) shall be in such form as may be prescribed and shall--(a)state the date on which it takes effect;(b)state the conditions subject to which the authorisation shall be in force;(c)indicate the payment of fees, if any, to be paid for the authorisation to be in force;(d)if it considers necessary, require the applicant to furnish such security for the proper conduct of the payment system under the provisions of this Act;(e)continue to be in force till the authorisation is revoked,
