{
  "url": "https://openlegislation.uk/benchmarks-amendment-and-transitional-provision-eu-exit-regulations-2019/regulation-27",
  "json_url": "https://openlegislation.uk/benchmarks-amendment-and-transitional-provision-eu-exit-regulations-2019/regulation-27.json",
  "legislation": "uksi/2019/657",
  "legislation_title": "The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/benchmarks-amendment-and-transitional-provision-eu-exit-regulations-2019",
  "path": "regulation/27",
  "kind": "regulation",
  "number": "27",
  "heading": "Equivalence",
  "text": "(1) Article 30 (equivalence) is amended as follows.\n(2) In paragraph 1—\n(a) in the opening words—\n(i) for “Union” substitute “ United Kingdom ”;\n(ii) for “register referred to in Article 36” substitute “ FCA register ”;\n(b) for point (a) substitute—\n“(a) either:\n(i) the Treasury have made regulations in accordance with paragraph 2 or 3 of this Article; or\n(ii) the European Commission has adopted a decision before IP completion day in accordance with paragraph 2 or 3 of Article 30 of the EU Benchmarks Regulation;”;\n(c) in point (c)—\n(i) for “ESMA” substitute “ the FCA ”;\n(ii) for “Union”, both times it occurs, substitute “ United Kingdom ”.\n(3) In paragraphs 2 and 3—\n(a) in the opening words, for “Commission may adopt an implementing decision stating” substitute “ Treasury may by regulations specify ”;\n(b) omit the second subparagraph.\n(4) In paragraph 4—\n(a) in the opening words—\n(i) for “ESMA” substitute “ The FCA ”;\n(ii) after “2 or 3” insert “ of this Article (on or after IP completion day) or paragraph 2 or 3 of Article 30 of the EU Benchmarks Regulation (before IP completion day) ”;\n(b) in point (a), for “ESMA”, both times it occurs, substitute “ the FCA ”;\n(c) in point (b), for “ESMA” substitute “ the FCA ”.\n(5) For paragraph 5 substitute—\n“\n5 The FCA may make technical standards to determine the minimum content of the cooperation arrangements referred to in paragraph 4 so as to ensure that the FCA is able to exercise all its supervisory powers under this Regulation.”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 27(2)(b) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 34(g)(i)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 27(4)(a)(ii) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 34(g)(ii)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 27 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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2019/657/regulation/27",
    "retrieved_at": "2026-10-28T22:43:31.658757+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}