12.—(1) For the purposes of regulation 10(b), the period is one that begins with exit day and ends with a day determined in accordance with paragraph (2).
(2) The period ends—
(a)after three years beginning with the day on which exit day occurs, or
(b)if earlier, with the day—
(i)before the day on which registration as a trade repository has effect,
(ii)on which the FCA determines, in accordance with regulation 13(1), that regulation 9 should cease to apply, or
(iii)on which the person ceases to be included within a group of undertakings which comprises a trade repository registered under the European Markets Infrastructure Regulation, as that Regulation has effect in the European Union.