(1) For the purposes of regulation 7(b), the period is one that begins with IP completion day and ends with a day determined in accordance with paragraph (2).

(2) The period ends -

(a) after three years beginning with the day on which IP completion day occurs; or

(b) if earlier, with the day -

(i) before the day on which the person’s registration as a trade repository has effect;

(ii) on which the FCA determines, in accordance with regulation 10(1), that regulation 6 should cease to apply to that person; or

(iii) on which the person ceases to be included within a group of undertakings which comprises a trade repository under the EU SFT Regulation.