Article 5 — Clearing obligation procedure — compare

1.Where a competent authority authorises a CCP to clear a class of OTC derivatives under Article  14 or  15, or where a class of OTC derivatives which a CCP intends to start clearing is covered by an existing authorisation granted in accordance with Article  14 or  15, the competent authority shall immediately notify ESMA of that authorisation or of the class of OTC derivatives which the CCP intends to start clearing.