Regulation 19 Mandatory contribution to a critical benchmarkI1

United Kingdom

(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 ”.

Annotations

I1: Reg. 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)