(1) A relevant CSD is to be treated as a relevant entity for the purposes of section 886 of the Income Tax Act 2007 for the period specified in paragraph (3).

(2) A relevant CSD is to be treated as a market infrastructure body for the purposes of the Investment Bank Special Administration Regulations 2011 [S.I. 2011/245. The definition of "market infrastructure body" in regulation 2(1) was amended by S.I. 2013/504 and 2017/1064.] for the period specified in paragraph (3).

(3) The period begins on IP completion day and ends -

(a) where the relevant CSD makes an application under Article 25(4) of the CSD Regulation on or after IP completion day and before the end of the period applicable in the relevant CSD's case under Article 69(1) of that Regulation, immediately after the determination of that application; or