10. Cancellation of approval or recognition

For the purposes of section 55(2) of the Act, an application under section 55(1) of the Act by an approved clearing house or a recognised clearing house to cancel its approval as an approved clearing house or recognition as a recognised clearing house, as the case may be, shall be made —

in writing; and

no later than 3 months before the date on which the approved clearing house or recognised clearing house, as the case may be, intends to cease operating its clearing facility or, where it operates more than one clearing facility, the last of its clearing facilities.