PART 2Amendment of EU Regulations

CHAPTER 1Amendment of Regulation (EU) 2016/1011

Use of a benchmarkI126

1

Article 29 (use of a benchmark) is amended as follows.

2

In paragraph 1—

a

for “Union”, where it first occurs, substitute “ United Kingdom ”;

b

for the words from “benchmark is provided by” to the end substitute—

benchmark:

a

is on the FCA register; or

b

is provided by an administrator who is on the FCA register and located in the United Kingdom.

3

In paragraph 2—

i

for “under Directive 2003/71/EC or Directive 2009/65/EC” substitute “ in accordance with rules made by the FCA under section 84 or 248 of FSMA, as those rules have effect on F1IP completion day ”M1;

ii

for “register referred to in Article 36 of this Regulation” substitute “ FCA register ”.