1. For the purposes of Article 55(1), a trade repository shall submit either of the following to the FCA:

(a) an application for registration;

(b) an application for an extension of the registration where the trade repository is already registered under Chapter III of Regulation (EU) 2015/2365.

2. The FCA shall assess whether the application is complete within 20 working days of receipt of the application.

Where the application is not complete, the FCA shall set a deadline by which the trade repository is to provide additional information.

After assessing an application as complete, the FCA shall notify the trade repository accordingly.

3. The FCA may make technical standards specifying the form and content of applications under paragraph 1.

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