(1) In this regulation and in regulation 4,
"non-authorised counterparty" means a person, other than an authorised person or a recognised body, who is a party to a financial collateral arrangement referred to in the second sub-paragraph of Article 3(2) of the CSD regulation;
"participant" means a participant in a securities settlement system as defined in Article 2(1)(19) of the CSD regulation, other than - (a) an authorised person [Defined in section 417(1) of the Financial Services and Markets Act 2000. Definitions in the Financial Services and Markets Act 2000 apply by virtue of S.I. 2014/2879.], or (b) a recognised body.
(2) Paragraph (3) applies where -
(a) a non-authorised counterparty is subject to an obligation under the CSD regulation; or
(b) it is necessary for the FCA to determine whether a person is a non-authorised counterparty.
(3) The FCA may, by notice in writing, require the counterparty or person -
(a) to provide specified information or information of a specifi
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