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Can my organisation submit an application to become a Participant now but only become subject to Scheme obligations on a date in the future when we are operationally ready for SEPA?

Yes. That is possible because each Applicant will be required to state a Readiness Date in the Schedule to the Adherence Agreement. The adherence of a Participant will only become effective on the Readiness Date, so that it will become subject to Scheme obligations as from the Readiness Date.

The submitted adherence documents will be kept valid for a maximum of 6 months. If after said period of time the Readiness Date has not been confirmed, or the application is still incomplete, the Applicant will be asked to send entirely updated documents.