CHAPTER IIIU.K. AUTHORISATION OF CSDs (Article 17 of Regulation (EU) No 909/2014)

SECTION 6 U.K. Prudential requirements

Article 35U.K.Capital requirements

An application for authorisation shall include the following information concerning the capital requirements:

(a)

information demonstrating that the capital of the applicant CSD, including retained earnings and reserves of the applicant CSD, meets the requirements of Article 47 of Regulation (EU) No 909/2014;

(b)

the plan referred to in Article 47(2) of Regulation (EU) No 909/2014 and any updates to that plan, and evidence of its approval by the management body or an appropriate committee of the management body of the applicant CSD.