Recognition ordersU.K.
2.—(1) A recognised investment exchange may apply to the Authority for an order declaring it to be a recognised auction platform for the purposes of these Regulations.
(2) The application must be made in such manner as the Authority may direct and must, to the extent required by the Authority, be accompanied by—
(a)a copy of the rules for the auction platform;
(b)a copy of any guidance for the auction platform issued by the applicant;
(c)particulars of the way in which the exchange satisfies the auction recognition requirements; and
(d)such other information as the Authority may reasonably require for the purpose of determining the application.
(3) If it appears to the Authority that the applicant satisfies the auction recognition requirements, the Authority may make a recognition order declaring the applicant to be a recognised auction platform.
(4) At any time after receiving an application and before determining it, the Authority may require the applicant to provide such further information as it reasonably considers necessary to enable it to determine the application.
(5) Information which the Authority requires in connection with an application must be provided in such form, or verified in such manner, as the Authority may direct.
(6) Different directions may be given, or requirements imposed, by the Authority with respect to different applications.
(7) In considering an application, the Authority may have regard to any information which it considers relevant to the application.
(8) The application must be determined by the Authority before the end of the period of six months beginning with the date on which it receives the completed application.
(9) A recognition order must specify a date on which it is to come into effect.