Where a legal person which is established in the United Kingdom intends—
to operate a securities settlement system referred to in point (3) of Section A of the Annex to the CSD regulation, and
to provide at least one other core service listed in Section A of that Annex,
it may apply to the Bank of England in accordance with Article 17 of the CSD regulation , and any technical standards originally made or adopted under that Article which are assimilated direct legislation and any technical standards made under that Article by the Bank on or after IP completion day, for an order granting authorisation for the purposes of Article 16 of that regulation and declaring it to be a recognised CSD for the purposes of this Act.