23.—(1) Article 27 (benchmark statement) is amended as follows.
(2) In paragraph 1—
(a)for “register referred to in Article 36” substitute “ FCA register ”;
(b)for “Union”, both times it occurs, substitute “ United Kingdom ”.
[F1(2A) In paragraph 2a, in the second subparagraph—
(a)for “EU Climate Transition Benchmark or UK Paris-aligned Benchmark” substitute “ UK Climate Transition Benchmark or UK Paris-aligned Benchmark ”;
(b)for “EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks” substitute “ UK Climate Transition Benchmarks and UK Paris-aligned Benchmarks ”;
(c)omit the words “in accordance with” to the end.
(2B) In paragraph 2b, for “The Commission is empowered to adopt delegated acts in accordance with Article 49” substitute “ The Treasury may make regulations ”.]
(3) In paragraph 3—
(a)in the first subparagraph, for “ESMA shall develop draft regulatory” substitute “ The FCA may make ”;
(b)in the second subparagraph, for “ESMA” substitute “ The FCA ”;
(c)omit the third and fourth subparagraphs.
Textual Amendments
F1Reg. 23(2A)(2B) inserted (31.12.2020 immediately before IP completion day) by The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2020 (S.I. 2020/628), regs. 1(3), 12(5)
Commencement Information
I1Reg. 23 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)