# Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (Text with EEA relevance), Article 20: Withdrawal of authorisation

Extent: E+W+S+N.I.

1. The CCP’s competent authority shall withdraw authorisation where the CCP:
(a) has not made use of the authorisation within 12 months, expressly renounces the authorisation or has provided no services or performed no activity for the preceding six months;
(b) has obtained authorisation by making false statements or by any other irregular means;
(c) is no longer in compliance with the conditions under which authorisation was granted and has not taken the remedial action requested by the CCP’s competent authority within a set time frame;
(d) has seriously and systematically infringed any of the requirements laid down in this Regulation.
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5. The CCP’s competent authority may limit the withdrawal to a particular service, activity, or class of financial instruments.
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Source: https://www.legislation.gov.uk/eur/2012/648/article/20 (the official version)
Page: https://openlegislation.uk/eu-regulation-2012-648/article-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.