Recognition by application Sample Clauses

Recognition by application. A clearing organization shall be recognized by the Commission as a recognized clearing organization sixty days after receipt by the Commission of an application for recognition unless notified otherwise during that period, if: (1) The application demonstrates that the applicant satisfies the conditions for recognition under this part; (2) The submission is labeled as being submitted pursuant to this part; (3) The submission includes a copy of the applicant’s rules and, to the extent that compliance with the conditions of recognition is not self-evident, a brief explanation of how the rules satisfy each of the conditions for recognition under § 39.3; (4) The applicant does not amend or supplement the application for recognition, except as requested by the Commission or for correction of typographical errors, renumbering or other nonsubstantive revisions, during that period; and (5) The applicant has not instructed the Commission in writing during the review period to review the application pursuant to procedures under section 6 of the Act. (6) Appendix A to this part is guidance to applicants concerning how the core principles set forth in this paragraph (b) could be satisfied.