(1) This regulation applies to a central counterparty established in a third country (‘A’) if -

(a) immediately before IP completion day the central counterparty is -

(i) authorised in accordance with Article 17 of the EMIR Regulation as it then has effect;

(ii) recognised in accordance with Article 25 of the EMIR Regulation as it then has effect; or

(iii) a central counterparty to which Article 89.4 of the EMIR Regulation as it then has effect applies;

(b) the central counterparty has notified the Bank of England in accordance with paragraph (2) that it intends to provide clearing services as a central counterparty in the United Kingdom on and after IP completion day; and

(c) where the central counterparty has submitted an application under regulation 12, that application has not been determined by the Bank of England.

(2) For the purposes of paragraph (1)(b), the notification must -