Article 20 1.

has not made use of the authorisation within 12 months;

has not made use of an authorisation for a clearing service or activity in a class of derivatives, securities, other financial instruments or non-financial instruments, within 12 months of the date when the authorisation was granted or of the date when the CCP last offered such clearing service or activity;

expressly renounces the authorisation;

has provided no services or performed no activity for the preceding 12 months in a class of derivatives, securities, other financial instruments or non-financial instruments covered by an authorisation;

has obtained authorisation by making false statements or by any other irregular means;

is no longer in compliance with the conditions under which authorisation was granted and has not taken the remedial action within the set timeframe; or

has seriously and systematically infringed any of the requirements laid down in this Regulation.