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The Trade Repositories (Amendment and Transitional Provision) (EU Exit) Regulations 2018, Section 7 is up to date with all changes known to be in force on or before 29 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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7.—(1) The FCA must, before the end of a period of 40 working days beginning with the day on which the FCA confirms that an application is complete, take the following steps.
(2) The first step is that the FCA must consider the application based on compliance with—
(a)Articles 78 to 80 of the European Markets Infrastructure Regulation, and
(b)Article 81 of the European Markets Infrastructure Regulation, as that Article has effect on [F1IP completion day]M1.
(3) The second step is that the FCA must decide whether the applicant should be registered as a trade repository or whether the application for registration should be rejected.
(4) The third step is that the FCA must notify the applicant of its decision, and the reasons therefor.
Textual Amendments
F1Words in reg. 7 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 9(a)
Marginal Citations
M1Article 81 of the European Markets Infrastructure Regulation is amended, with effect from IP completion day, by regulation 3.
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