1.

Section II is replaced by the following: ‘II. Implementation details for CSD access criterion 2 A CSD shall provide the following documentation in the context of its assessment against this criterion: (a) for a CSD located in an EEA country, the outcome of its assessment or proof of its authorisation (whichever is the most recent) by the relevant competent authorities against Regulation (EU) No 909/2014 of the European Parliament and of the Council (*1); if no proof of compliance with that Regulation is available, the CSD shall submit a self-attestation consistent with the assessment and/or authorisation; or (b) for a CSD located in a non-EEA country, the outcome of its assessment or proof of its authorisation (whichever is the most recent) by the relevant competent authorities against the Principles for Financial Market Infrastructures of the Committee on Payment and Market Infrastructures and the International Organisation of Securities Commissions (PFMI) (*2) or a legal framework implementing the PFMI, as applicable. If no proof of compliance with a legal framework implementing the PFMI is available, the CSD shall submit a self-attestation consistent with the assessment and/or authorisation. Where shortcomings have been identified by the relevant competent authorities as regards the CSD's compliance with Regulation (EU) No 909/2014, the PFMI or a legal framework implementing the PFMI, the respective CSD shall inform the MIB of the relevant details and provide explanations and evidence regarding those shortcomings. The CSD shall also provide the MIB with the conclusions of the relevant competent authorities, as contained in the assessment. Any shortcomings identified by the relevant competent authorities as regards the CSD's compliance with Regulation (EU) No 909/2014, the PFMI or a legal framework implementing the PFMI must not endanger, in the assessment of the Governing Council, the safe and efficient provision of T2S services. The above information will be processed in accordance with the relevant application procedures for access to T2S services and ongoing compliance with the five CSD access criteria. A CSD will fulfil this CSD access criterion where: (a) a CSD located in an EEA country has been authorised under Regulation (EU) No 909/2014 or positively assessed against Regulation (EU) No 909/2014 in the most recent assessment conducted by the relevant competent authorities; or (b) a CSD located in a non-EEA country has been positively assessed against the PFMI or a legal framework implementing the PFMI in the most recent assessment conducted by the relevant competent authorities. If the CSD is authorised under/assessed against a legal framework other than the PFMI or Regulation (EU) No 909/2014, the CSD must provide evidence satisfactory to the MIB and the Governing Council that it has been assessed against a legal framework of a level and nature comparable with that of the PFMI or Regulation (EU) No 909/2014. Where the relevant competent authorities' assessment contains confidential information, the CSD must provide a general summary or the assessment conclusion to show its level of compliance. (*1) Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (OJ L 257, 28.8.2014, p. 1)." (*2) CPMI-IOSCO, Principles for Financial Market Infrastructures (April 2012).’;"