Article 12
Financial reports and business plans
1. An application for registration as a trade repository shall contain the following financial and business information about the applicant:
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(a) |
a complete set of financial statements, prepared in conformity with international standards adopted in accordance with Article 3 of Regulation (EC) No 1606/2002 of the European Parliament and of the Council (6); |
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(b) |
where the financial statements of the applicant are subject to statutory audit within the meaning given in Article 2(1) of the Directive 2006/43/EC of the European Parliament and of the Council (7), the financial reports shall include the audit report on the annual and consolidated financial statements; |
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(c) |
if the applicant is audited, the name and the national registration number of the external auditor; |
2. An application for registration as a trade repository shall contain a financial business plan contemplating different business scenarios for the trade repository services over a minimum three years' reference period and including the following additional information:
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(a) |
the expected level of reporting activity in number of transactions; |
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(b) |
the relevant fixed and variable costs identified with respect to the provision of repository services under Regulation (EU) 2015/2365; |
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(c) |
positive and negative variations of at least 20 % from the base activity scenario identified. |
3. Where the historical financial information referred to in paragraph 1 is not available, an application for registration as a trade repository shall contain the following information about the applicant:
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(a) |
the pro-forma statement demonstrating proper resources and expected business status in six months after registration is granted; |
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(b) |
an interim financial report where the financial statements are not yet available for the requested period of time; |
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(c) |
a statement of financial position, such as a balance sheet, income statement, changes in equity and of cash flows and notes comprising a summary of accounting policies and other explanatory notes. |
4. An application for registration as a trade repository shall contain the audited annual financial statements of any parent undertaking for the three financial years preceding the date of the application.
5. An application for registration as a trade repository shall also contain the following financial information about the applicant:
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(a) |
an indication of any future plans for the establishment of subsidiaries and their location; |
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(b) |
a description of the business activities which the applicant plans to carry out, specifying the activities of any subsidiaries or branches. |
(6) Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (OJ L 243, 11.9.2002, p. 1).
(7) Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts (OJ L 157, 9.6.2006, p. 87).