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Article 11 – Notification of changes to the membership of the management body by CTPs ⬅️ | ➡️ Article 13 – Repeal
Article 12 - Communication of the decision to grant or refuse an authorisation to operate as a CTP
ESMA shall electronically inform an applicant for authorisation as a CTP of its decision to grant or to refuse such authorisation within five working days following the adoption of a reasoned decision as referred to in Article 27db(3) of Regulation (EU) No 600/2014.