{
  "url": "https://openlegislation.uk/eu-decision-2007-7/annex-III/article-6",
  "json_url": "https://openlegislation.uk/eu-decision-2007-7/annex-III/article-6.json",
  "legislation": "eudn/2007/7",
  "legislation_title": "Decision of the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7) (2007/601/EC)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2007-7",
  "path": "annex/III/article/6",
  "kind": "article",
  "number": "6",
  "heading": "Application procedure",
  "text": "1. In order for ECB to open a TIPS DCA for an entity, such entity must comply with the access criteria of Article 5 and shall:\n(a) fulfil the following technical requirements:\n(i) install, manage, operate and monitor and ensure the security of the necessary IT infrastructure to connect to the TIPS Platform and submit payment orders to it. In doing so, applicant TIPS DCA holders may involve third parties, but retain sole liability. In particular, applicant TIPS DCA holders shall enter into an agreement with one or more TIPS network service providers to obtain the necessary connection and admissions, in accordance with the technical specifications and requirements in Appendices I and V; and\n(ii) have passed the tests required by the ECB; and\n(b) fulfil the following legal requirements:\n(i) provide a capacity opinion in the form specified in Appendix II, unless the information and representations to be provided in such capacity opinion have already been obtained by the ECB in another context;\n(ii) for entities established outside the EEA, provide a country opinion in the form specified in Appendix II, unless the information and representations to be provided in such country opinion have already been obtained by the ECB in another context; and\n(iii) have adhered to the SCT Inst scheme by signing the SEPA Instant Credit Transfer Adherence Agreement.\n2. Entities wishing to open a TIPS DCA shall apply in writing to the ECB, as a minimum enclosing the following documents/information:\n(a) completed static data collection forms as provided by the ECB;\n(b) the capacity opinion, if required by the ECB;\n(c) the country opinion, if required by the ECB; and\n(d) evidence of their adherence to the SCT Inst scheme.\n3. The ECB may also request any additional information it deems necessary to decide on the application to open a TIPS DCA.\n4. The ECB shall reject the application to open a TIPS DCA if:\n(a) access criteria referred to in Article 5 are not met;\n(b) one or more of the participation criteria referred to in paragraph 1 are not met; and/or\n(c) in the ECB's assessment, opening a TIPS DCA would endanger the overall stability, soundness and safety of TARGET2-ECB or of any other TARGET2 component system, or would jeopardise the ECB's performance of its tasks as described in [refer to relevant national law] and the Statute of the European System of Central Banks and of the European Central Bank, or poses risks on the grounds of prudence.\n5. The ECB shall communicate its decision on the application to open a TIPS DCA to the applicant TIPS DCA holder within one month of the ECB's receipt thereof. Where the ECB requests additional information pursuant to paragraph 3, the decision shall be communicated within one month of the ECB's receipt of this information from the applicant TIPS DCA holder. Any rejection decision shall contain reasons for the rejection.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Inserted by Decision (EU) 2018/1625 of the European Central Bank of 8 October 2018 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2018/24)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2007/7/annex/III/article/6",
    "retrieved_at": "2026-11-01T15:17:18.350563+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}