{
  "url": "https://openlegislation.uk/eu-regulation-2019-359/article-12",
  "json_url": "https://openlegislation.uk/eu-regulation-2019-359/article-12.json",
  "legislation": "eur/2019/359",
  "legislation_title": "Commission Delegated Regulation (EU) 2019/359 of 13 December 2018 supplementing Regulation (EU) 2015/2365 of the European Parliament and of the Council with regard to regulatory technical standards specifying the details of the application for registration and extension of registration as a trade repository (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2019-359",
  "path": "article/12",
  "kind": "article",
  "number": "12",
  "heading": "Financial reports and business plans",
  "text": "1. An application for registration as a trade repository shall contain the following financial and business information about the applicant:\n(a) a complete set of financial statements, prepared in conformity with international standards adopted in accordance with Article 3 of Regulation (EC) No 1606/2002 of the European Parliament and of the Council;\n(b) where the financial statements of the applicant are subject to statutory audit within the meaning given in Article 2(1) of the Directive 2006/43/EC of the European Parliament and of the Council, the financial reports shall include the audit report on the annual and consolidated financial statements;\n(c) if the applicant is audited, the name and the national registration number of the external auditor;\n2. An application for registration as a trade repository shall contain a financial business plan contemplating different business scenarios for the trade repository services over a minimum three years' reference period and including the following additional information:\n(a) the expected level of reporting activity in number of transactions;\n(b) the relevant fixed and variable costs identified with respect to the provision of repository services under Regulation (EU) 2015/2365;\n(c) positive and negative variations of at least 20 % from the base activity scenario identified.\n3. Where the historical financial information referred to in paragraph 1 is not available, an application for registration as a trade repository shall contain the following information about the applicant:\n(a) the pro-forma statement demonstrating proper resources and expected business status in six months after registration is granted;\n(b) an interim financial report where the financial statements are not yet available for the requested period of time;\n(c) a statement of financial position, such as a balance sheet, income statement, changes in equity and of cash flows and notes comprising a summary of accounting policies and other explanatory notes.\n4. An application for registration as a trade repository shall contain the audited annual financial statements of any parent undertaking for the three financial years preceding the date of the application.\n5. An application for registration as a trade repository shall also contain the following financial information about the applicant:\n(a) an indication of any future plans for the establishment of subsidiaries and their location;\n(b) a description of the business activities which the applicant plans to carry out, specifying the activities of any subsidiaries or branches.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (OJ L 243, 11.9.2002, p. 1)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts (OJ L 157, 9.6.2006, p. 87)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2019/359/article/12",
    "retrieved_at": "2026-11-01T14:43:32.454609+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."
}