TITLE IIIAUTHORISATION AND SUPERVISION OF CCPs

CHAPTER 1 Conditions and procedures for the authorisation of a CCP

Article 20Withdrawal of authorisation

1.

F1The CCP’s competent authority shall withdraw authorisation where the CCP:

(a)

has not made use of the authorisation within 12 months, expressly renounces the authorisation or has provided no services or performed no activity for the preceding six months;

(b)

has obtained authorisation by making false statements or by any other irregular means;

(c)

is no longer in compliance with the conditions under which authorisation was granted and has not taken the remedial action requested by the CCP’s competent authority within a set time frame;

(d)

has seriously and systematically infringed any of the requirements laid down in this Regulation.

F22.

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F23.

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F24.

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5.

The CCP’s competent authority may limit the withdrawal to a particular service, activity, or class of financial instruments.

F36.

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F47.

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