Regulation 8 Conditions to be satisfied for regulation 6 to apply
The conditions are—
(a)
the person is a body corporate which, immediately before IP completion day, is—
(i)
incorporated under the law of any part of the United Kingdom; and
(ii)
included within a group of undertakings which comprises a trade repository registered under the EU SFT Regulation;
(b)
the person has—
(i)
submitted an advance application in accordance with regulation 2, whether or not the application complies with any applicable direction under regulation 2(2)(b); and
(ii)
not been notified by the FCA of its decision in respect of the application in accordance with regulation 4(4).