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81.—(1) In relation to the clearing obligation, the relevant day referred to in regulation 80(3) is the earlier of—
(a)the day which is 2 months after the day on which an equivalence determination in relation to the third country in which the non-UK counterparty is established comes into force; or
(b)the day which is 3 years after exit day.
(2) In relation to the risk-management obligation, the relevant day referred to in regulation 80(3) is the earlier of—
(a)the day which is 4 months after the day on which an equivalence determination in relation to the third country in which the non-UK counterparty is established comes into force; or
(b)the day which is 3 years after exit day.
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