Regulation 14 Power to make regulations in respect of third countries' regulatory frameworks before IP completion dayF3

the legal and supervisory arrangements of a third country ensure that central counterparties authorised in that country comply with legally binding requirements which are equivalent to the requirements laid down in Title IV of the EMIR Regulation, as it has effect in EU law as amended from time to time;

central counterparties authorised in that country are subject to effective supervision and enforcement on an ongoing basis; and

the legal framework of that country provides for an effective equivalent system for the recognition of central counterparties authorised under the legal regimes of other countries.