The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 No. 657

PART 2 Amendment of EU Regulations

CHAPTER 1 Amendment of Regulation (EU) 2016/1011

Exercise of the delegation

40.  For Article 49 (exercise of the delegation) substitute—

“Article 49 Regulations made by the Treasury

1.   Any power to make regulations conferred on the Treasury by this Regulation is exercisable by statutory instrument.

2.   Such regulations may:

(a) contain incidental, supplemental, consequential and transitional provision; and

(b) make different provision for different purposes.

3.   A statutory instrument containing regulations made under this Regulation is subject to annulment in pursuance of a resolution of either House of Parliament.”.