Version status: Applicable, Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 12 January 2016 - onwards
  Version 2 of 2    

Article 7 Examination of the application

1. ESMA shall, within 40 working days of the notification referred to in Article 5(6), examine the application for registration, or for an extension of registration, based on the compliance of the trade repository with this Chapter and shall adopt a fully reasoned decision accepting or refusing registration or an extension of registration.

2. A decision issued by ESMA pursuant to paragraph 1 shall take effect on the fifth working day following its adoption.