s 288 Application by a clearing house.
(A1) This section applies only in relation to an application by a clearing house. (1) A body corporate or unincorporated association which is established in the United Kingdom may, where it intends to provide clearing services as a central counterparty, apply to the Bank of England in accordance with Article 17 of the EMIR regulation for an order granting authorisation for the purposes of that Article and declaring it to be a recognised central counterparty for the purposes of this Act. (1A) A body corporate or unincorporated association may, where it intends to provide clearing services in the United Kingdom without doing so as a central counterparty, apply to the Bank of England for an order declaring it to be for the purposes of this Act a recognised clearing house which is not a recognised central counterparty. (2) An application under subsection (1A) must be made in such manner as the Bank of England may direct and must be accompanied by— (a) a copy of the applicant’s rules; (b) a copy of any guidance issued by the applicant; (c) the required particulars; and (d) such other information as the Bank may reasonably require for the purpose of determining the application. (3) The required particulars are— (a) if the applicant makes, or proposes to make, clearing arrangements with a recognised investment exchange, particulars of those arrangements; (b) if the applicant proposes to provide clearing services or services falling within section 285(3)(b) for persons other than recognised investment exchanges, particulars of the criteria which it will apply when determining to whom it will provide those services.