124. Recognition orders

(1) If it appears to the Regulator that the Applicant satisfies the Recognition Requirements applicable in its case, the Regulator may —
(a) where the Application is made under section 121, make a recognition order declaring the Applicant to be a Recognised Investment Exchange;
(b) where the Application is made under section 122, make a recognition order declaring the Applicant to be a Recognised Clearing House.
(2) In considering an Application made under section 121 or 122, the Regulator may have regard to any information which it considers is relevant to the Application.
(3) A recognition order must specify a date on which it is to take effect.
(4) Section 135 has effect in relation to a decision to refuse to make a recognition order —
(a) as it has effect in relation to a decision to revoke such an order; and
(b) as if references to a Recognised Body were references to the Applicant.