S.L. 345.17 Art. 6Withdrawal of registration.

The competent authority shall not register, and it shall withdraw a registration issued under regulation 5, as the case may be, where:

(a) the holder thereof is not fit and proper to act as a central counterparty;

(b) the holder thereof does not fulfil the requirements of registration, or has contravened any of the conditions of registration;

(c) the holder thereof, or a person acting on its behalf, has furnished the competent authority with information which is false, inaccurate or misleading;

(d) registration has been obtained through false statements or by other irregular means; or

(e) at the request of the holder thereof.