PART 6Acquisition of control over recognised central counterparties
Procedure in relation to proposed acquisitionI112
1
If the Bank gives a person (“P”) notice under Article 31(5) of the EMIR regulation that it opposes a proposed acquisition, P may refer the Bank’s decision to the Tribunal.
2
The notice under Article 31(5) of the EMIR regulation—
a
must inform P that P may make representations to the Bank within such period as may be specified in the notice (whether or not P has referred the matter to the Tribunal); and
b
must inform P of P’s right to refer the matter to the Tribunal, and give an indication of the procedure on such a reference.
3
The Bank may extend the period allowed under the notice for making representations.
4
If, having considered any representations made by P, the Bank decides to rescind the notice under Article 31(5) of the EMIR regulation, it must give P written notice.
5
If, having considered any representations made by P, the Bank decides not to rescind the notice under Article 31(5) of the EMIR regulation, it must give P written notice which must comply with paragraph (2)(b).