PART 2Amendment of EU Regulations
CHAPTER 1Amendment of Regulation (EU) 2016/1011
Exemptions from specific requirements for significant benchmarksI121
1
Article 25 (exemptions from specific requirements for significant benchmarks) is amended as follows.
2
In paragraph 2, for “the competent authority” substitute “
the FCA
”
.
3
In paragraph 3—
a
for “A competent authority” substitute “
The FCA
”
;
b
for “the competent authority” substitute “
the FCA
”
.
4
In paragraph 4, for “the competent authority”, both times if occurs, substitute “
the FCA
”
.
5
In paragraphs 5 and 6, for “a competent authority” substitute “
the FCA
”
.
6
In paragraph 8—
a
in the first subparagraph, for “ESMA shall develop draft implementing” substitute “
The FCA may make
”
;
b
omit the second and third subparagraphs.
7
In paragraph 9—
a
in the first subparagraph, for “ESMA shall develop draft regulatory” substitute “
The FCA may make
”
;
b
omit the second and third subparagraphs.