The current implementation proposal provides that their PSD1 registration remains valid until 13 January 2019. After that date, their exemption and registration in the public register will remain valid if they submit evidence showing they meet the PSD2 exemption requirements.
They can do so by notifying us using the Digital Supervision Portal until 1 December 2018. The PSD2 requirements are not substantively different from those that currently apply. This means that the evidence will in all likelyhood be the documents you submitted with your application for registration in the public register as an exempted payment service provider or electronic money institution or information you any supplementary information or changes you submitted at a later stage. The evidence can be submitted by completing a notification form in our Digital Supervision Portal (DLT). You can find the form here.
If we cannot ascertain, based on the evidence you submit, that you meet the relevant requirements, we will delete your institution from the public register. You must then discontinue your operations as soon as possible or legalise them, for example by modifying them or obtaining a licence.