MIR 4.13.1

If a Recognised Clearing House also carries out functions of a Central Securities Depository, it may do so pursuant to its exemption or alternative may seek an additional registration as an authorised Person solely in respect of its activities as a Central Securities Depository, provided that its recognition order includes a stipulation permitting it to do so. If the recognition order does include such a stipulation, the rules that are applicable to Central Securities Depositories in COBS pursuant to COBS 10.2 will apply to that function, but that function only, and no other provisions of the Rulebook except MIR and such provisions of COBS shall apply.