COB 9.2.3

(1) An ATS Operator may only make material changes to its existing arrangements to meet the requirements in this chapter in accordance with the requirements in this Rule.

(2) The reference to "Existing Arrangements" in (1) is a reference to both the arrangements which were in place at the time of the initial grant of the Licence and any changes made to such arrangements in accordance with the requirements in this Rule.

(3) For the purposes of obtaining the DFSA approval, an ATS Operator must provide to the DFSA, at least 30 days before the proposed change is intended to come into effect, a notice setting out:

(a) the proposed change;
(b) the reasons for the proposed change; and
(c) what impact the proposed change would have on its members and its ability to operate the facility.

(4) The DFSA must, upon receipt of a notice referred to in (1), approve or disapprove the proposed change as soon as practicable and in any event within 30 days of the receipt of the notice, unless that period has been extended by notification to the applicant.

(5) The DFSA may, in circumstances where a material change to Current Arrangements is shown on reasonable grounds to be urgently needed, accept an application for approval of such a change on shorter notice than 30 days.

(6) The procedures in Schedule 3 to the Regulatory Law apply to a decision of the DFSA to reject a proposed change under this Rule.

(7) Where the DFSA decides to reject a proposed change, the ATS Operator may refer the matter to the FMT for review.

[Added] DFSA RM123/2013 (Made 13th June 2013) [VER22/07-13]
[Amended] DFSA RM175/2016 (Made 10th February 2016). [VER26/04-16]