1. The credit rating agency shall submit an application for registration to the FCA. The application shall contain information on the matters set out in Annex II.

2. Where a group of credit rating agencies applies for registration, the members of the group shall mandate one of their number to submit all the applications to the FCA on behalf of the group. The mandated credit rating agency shall provide the information on the matters set out in Annex II for each member of the group.

3. A credit rating agency shall submit its application in English.

4. Within 20 working days of receipt of the application, the FCA shall assess whether the application is complete. If the application is not complete, the FCA shall set a deadline by which the credit rating agency is to provide additional information.

After assessing an application as complete, the FCA shall notify the credit rating agency accordingly.