SCHEDULE 7The Registry

Setting up accounts1

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.