Content of the authorisation application; requesting documents; dispensing with the hearing

(1) An application for authorisation as a central counterparty domestically under Articles 14 and 17 of Regulation (EU) No 648/2012 must contain:
1. the type of products cleared,
2. a description of the establishment and design of the models and parameters used to calculate the margin requirements within the meaning of Article 41 of Regulation (EU) No 648/2012, including a statement of the relevant sources for price determination within the meaning of Article 40 of Regulation (EU) No 648/2012,
3. evidence of the establishment of default funds within the meaning of Article 42 of Regulation (EU) No 648/2012 and a description of their design,
4. a description of the arrangements for maintaining other financial resources within the meaning of Article 43(1) of Regulation (EU) No 648/2012,
5. a description of the mechanisms for controlling liquidity risks within the meaning of Article 44 of Regulation (EU) No 648/2012,
6. a description of the collateral requirements under Article 46 of Regulation (EU) No 648/2012,
7. particulars of the investment policy within the meaning of Article 47 of Regulation (EU) No 648/2012,
8. a description of the procedures in the event of a clearing member's default under Article 48 of Regulation (EU) No 648/2012,
9. a description of the review procedures within the meaning of Article 49 of Regulation (EU) No 648/2012, and
10. all particulars named in section 32(1), fifth sentence; the statutory instrument issued under section 32(1), sixth sentence, applies correspondingly.
(2) The Federal Institute may require further documents, insofar as these are necessary for assessing the authorisation application.
(3) The Federal Institute may dispense with the hearing under section 28(1) of the Administrative Procedure Act where it intends to attach conditions or recommendations within the meaning of Regulation (EU) No 648/2012 to
1. authorisations under Article 14 of Regulation (EU) No 648/2012,
2. approvals of extensions of authorisation under Article 15, also in conjunction with Article 17a, of Regulation (EU) No 648/2012, or
3. approvals and validations under Article 49, also in conjunction with Article 49a, of Regulation (EU) No 648/2012.