+Article 16 Authorisation of a CSD
---+Article 16 1.
---+Article 16 2.
---+Article 16 3.
---+Article 16 4.

Article 16 Authorisation of a CSD

1. Overview

,
Article 16 1.
Any legal person that falls within the definition of CSD shall obtain an authorisation from the competent authority of the Member State where it is established before commencing its activities.
Article 16 2.
The authorisation shall specify the core services listed in Section A of the Annex and non-banking-type ancillary services permitted under Section B of the Annex, which the CSD is authorised to provide.
Article 16 3.
A CSD shall comply at all times with the conditions necessary for authorisation.
Article 16 4.
A CSD as well as its independent auditors, shall, without undue delay, inform the competent authority of any substantive changes affecting the compliance with the conditions for authorisation.

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
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