TITLE VIF1REGULATIONS, TRANSITIONAL AND FINAL PROVISIONS
F2Article 69Transitional provisions
1
Within six months of regulations being made under Article 25(9) specifying a third country, a third-country CSD established in the third-country must apply for recognition where it intends to provide services on the basis of Article 25.
2
The law of the United Kingdom or any part of the United Kingdom relating to the recognition of third-country CSDs, which applied prior to the coming into force of this Regulation, continues to apply to a qualifying third-country CSD (within the meaning of regulation 25 of the Central Securities Depositories (Amendment) (EU Exit) Regulations 2018), where it has—
a
made an application under Article 25 and the competent authority has not determined the application; or
b
not made an application under Article 25 and the six-month period referred to in paragraph 1 has not expired.
3
The law of the United Kingdom or any part of the United Kingdom relating to the authorisation of CSDs, which applied prior to the coming into force of this Regulation, continues to apply to a CSD where, before 30 September 2017—
a
the CSD made an application for authorisation pursuant to Article 17 of this Regulation; and
b
the competent authority has not determined the application.
Title 6 heading substituted (31.12.2020) by The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1320), regs. 1(3), 22(1) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)