Mandatory administration of a critical benchmark
This section has no associated Explanatory Memorandum
17.—(1) Article 21 (mandatory administration of a critical benchmark) is amended as follows.
(2) In paragraph 1, in point (a), for “its competent authority” substitute “the FCA”.
(3) In paragraph 2—
(a)in the first subparagraph--
(i)in the opening words, for “the competent authority” substitute “the FCA”;
(ii)omit point (a);
(b)in the second subparagraph, for “the competent authority” substitute “the FCA”.
(4) In paragraphs 3 and 4, for “the competent authority”, each time it occurs, substitute “the FCA”.