PART 9Transitional and saving provisions
Further transitional provisions: EEA and third country central counterpartiesI153
1
Where the competent authority of an EEA State other than the United Kingdom has made a decision to authorise or not to authorise a CCP RCH in accordance with Article 17 of the EMIR regulation—
a
its recognition order under section 292(2)(b) of the Act ceases to be valid; and
b
the CCP RCH is no longer a recognised clearing house.
2
Where ESMA has made a decision to recognise or not to recognise a CCP RCH established in a State which is not an EEA State in accordance with Article 25 of the EMIR regulation—
a
its recognition order under section 292(2)(b) of the Act ceases to be valid; and
b
the CCP RCH is no longer a recognised clearing house.