Mandatory contribution to a critical benchmarkU.K.
19.—(1) Article 23 (mandatory contribution to a critical benchmark) is amended as follows.
(2) In paragraph 2, for “their competent authority” substitute “ the FCA ”.
(3) In paragraph 3—
(a)in the first sentence, for “its competent authority” substitute “ the FCA ”;
(b)omit the second sentence;
(c)in the third sentence, for “its competent authority” substitute “ the FCA ”.
(4) In paragraph 4, for the words from “competent authority” to “Article 46, and” substitute “ FCA must ”.
(5) In paragraph 5, for “competent authority of the administrator” substitute “ FCA ”.
(6) In paragraph 6, for “competent authority” substitute “ FCA ”.
(7) In paragraph 7, for the words from “competent authority” to “entities,” substitute “ FCA ”.
(8) Omit paragraph 8.
(9) In paragraph 9—
(a)in the opening words, for “competent authority of the administrator” substitute “ FCA ”;
(b)in point (a), for “competent authority”, both times it occurs, substitute “ FCA ”.
(10) In paragraph 10, for “competent authority” substitute “ FCA ”.
(11) In paragraph 11, for “relevant competent authority” substitute “ FCA ”.
(12) In paragraph 12, for “its Member State” substitute “ the United Kingdom ”.
Commencement Information
I1Reg. 19 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)