PART 6Transitional provisions
Application for deemed recognition pursuant to Article 25 of the EMIR Regulation12
1
A central counterparty established in a third country may apply to be recognised by the Bank of England where it intends to provide clearing services as a central counterparty in the United Kingdom on and after F1IP completion day.
2
The application must—
a
be submitted before F1IP completion day;
b
be made in such manner as the Bank of England may direct;
c
specify the services or activities linked to clearing which the applicant intends to provide and the classes of financial instrument in respect of which the applicant wishes to be recognised; and
d
be accompanied by such other information as the Bank of England may direct.
3
The Bank of England must confirm promptly receipt of the application to the person making it.
4
The applicant may withdraw the application by giving notice to the Bank of England at any time before the application is determined.