The applicant CSD shall submit an application for authorisation to F1the competent authority.

The application for authorisation shall be accompanied by all information necessary to enable the competent authority to satisfy itself that the applicant CSD has established, at the time of the authorisation, all the necessary arrangements to meet its obligations as laid down in this Regulation. The application for authorisation shall include a programme of operations setting out the types of business envisaged and the structural organisation of the CSD.

Within 30 working days from the receipt of the application, the competent authority shall assess whether the application is complete. If the application is not complete, the competent authority shall set a time limit by which the applicant CSD has to provide additional information. The competent authority shall inform the applicant CSD when the application is considered to be complete.

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Within six months from the submission of a complete application, the competent authority shall inform the applicant CSD in writing with a fully reasoned decision whether the authorisation has been granted or refused.

F2The Bank of England may make regulatory technical standards to specify the information that the applicant CSD is to provide to the competent authority in the application for authorisation.

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F3The Bank of England may make implementing technical standards to establish standard forms, templates and procedures for the application for authorisation.

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