SCHEDULE 7 The Registry

1 Setting up accounts
(1) The administrator must ensure the Registry allows the following accounts to be held—
(a) a compliance account for a participant; and
(b) as agreed by it—
(i) additional accounts for a participant; and
(ii) accounts for third parties.
(2) The administrator may—
(a) limit the number of accounts in respect of a participant or third party; and
(b) set up other accounts.
(3) The administrator must set up one compliance account for a participant where—
(a) it has registered an applicant as a participant; and
(b) it has completed to its satisfaction the identity checks required under article 70(2).
(4) The public body or undertaking in whose name an account is held is the account holder.