636. In accordance with Article 72(1) EMIR, in the Consultation Paper, ESMA indicated that the supervisory fees charged by ESMA to the TRs "shall fully cover ESMA's necessary expenditure relating to the registration and supervision of TRs and the reimbursement of any costs that the competent authorities may incur carrying out work pursuant to this Regulation in particular as a result of any delegation of tasks in accordance with Article 74". In that respect, and in order to align with the existing provisions under SFTR, ESMA proposed to include the payment of the relevant fees as a condition for the TR to be registered under EMIR.

637. One respondent proposed to permit a joint application for EMIR and SFTR. A new TR is able to pay the registration fee for EMIR and the extension fee for SFTR when submitting both applications, when a considerable overlap could be avoided both in preparing the registration application and in ESMA's review, if the application could be combined. ESMA disagrees as the registration decisions are separate and that it is easier to keep separate references to the applications.