{
  "url": "https://openlegislation.uk/eu-regulation-2009-1060/article-8c",
  "json_url": "https://openlegislation.uk/eu-regulation-2009-1060/article-8c.json",
  "legislation": "eur/2009/1060",
  "legislation_title": "Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2009-1060",
  "path": "article/8c",
  "kind": "article",
  "number": "8c",
  "heading": "Double credit rating of securitisation instruments",
  "text": "1. Where an issuer or a related third party intends to solicit a credit rating of a securitisation instrument , it shall appoint at least two credit rating agencies to provide credit ratings independently of each other.\n2. The issuer or a related third party as referred to in paragraph 1 shall ensure that the appointed credit rating agencies comply with the following conditions:\n(a) they do not belong to the same group of credit rating agencies;\n(b) they are not a shareholder or a member of any of the other credit rating agencies;\n(c) they do not have the right or the power to exercise voting rights in any of the other credit rating agencies;\n(d) they do not have the right or the power to appoint or remove members of the administrative or supervisory board of any of the other credit rating agencies;\n(e) none of the members of their administrative or supervisory boards are a member of the administrative or supervisory boards of any of the other credit rating agencies;\n(f) they do not exercise, or have the power to exercise, control or a dominant influence over any of the other credit rating agencies.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Inserted by Regulation (EU) No 462/2013 of the European Parliament and of the Council of 21 May 2013 amending Regulation (EC) No 1060/2009 on credit rating agencies (Text with EEA relevance)."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Substituted by Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2009/1060/article/8c",
    "retrieved_at": "2026-11-01T14:51:09.119056+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."
}