[F14B. For the purposes of Article 76a of EMIR, and upon the submission of a request by the relevant authorities of an EEA state, the Treasury may determine whether the legal framework of an EEA state of the requesting authority fulfils all of the following conditions—U.K.
(a)trade repositories established in that EEA state are duly authorised,
(b)effective supervision and enforcement of trade repositories takes place in that EEA state on an ongoing basis,
(c)guarantees of professional secrecy exist, including the protection of business secrets shared with third parties by the authorities, and they are at least equivalent to those set out in EMIR, and
(d)trade repositories authorised in that EEA state are subject to a legally binding and enforceable obligation to grant the entities referred to in Article 81(3) of EMIR direct and immediate access to the data.]
Textual Amendments