[ Article 25p U.K. Withdrawal of recognition
1 .[The Bank of England may withdraw a recognition decision adopted in accordance with Article 25 where:]
( a ) the CCP concerned has not made use of the recognition within six months, expressly renounces the recognition or has ceased to engage in business for more than six months;
( b ) the CCP concerned has obtained the recognition through false statements or by any other irregular means;
( c ) the CCP concerned has seriously and systematically infringed any of the conditions for recognition laid down in Article 25 or no longer complies with any of those conditions and in any of those situations has not taken the remedial action requested by [the Bank of England] ... ;
( d )[the Bank of England] is unable to exercise effectively its responsibilities under this Regulation over the CCP concerned, due to the failure of the third-country authority of the CCP to provide [the Bank of England] with all relevant information or cooperate with [the Bank of England] in accordance with Article 25(7);
[( e )the regulations made under Article 25(6) have been revoked, or the conditions specified in the regulations are no longer satisfied.]
[The Bank of England] may limit the withdrawal of the recognition to a particular service, activity or class of financial instruments.
When determining the date of entry into effect of the decision to withdraw the recognition, [the Bank of England] shall endeavour to minimise potential market disruption and provide for an appropriate adaptation period which shall not exceed two years.
2 . Before withdrawing the recognition in accordance with point (c) of paragraph 1 of this Article, [the Bank of England] shall take into account the possibility of applying [disciplinary measures in accordance with Chapter 3B of Part 18 of the Financial Services and Markets Act 2000].
[If the Bank of England determines that remedial action has not been taken or that the action taken is not appropriate, the Bank of England shall withdraw the recognition decision.]
3 .[The Bank of England] shall, without undue delay, notify the relevant third-country competent authority of a decision to withdraw the recognition of a recognised CCP.
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