# The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019, Regulation 29: Recognition of an administrator located in a third country

Extent: E+W+S+N.I.

(1) Article 32 (recognition of an administrator located in a third country) is amended as follows.
(2) In paragraph 1—
(a) for the words from “an equivalence” to “adopted” substitute “ regulations are made in accordance with Article 30(2) or (3) ”;
(b) for “Union” substitute “ United Kingdom ”;
(c) for “competent authority of its Member State of reference” substitute “ FCA ”.
(3) In paragraph 2, in the second subparagraph, for “competent authority of the Member State of reference” substitute “ FCA ”.
(4) In paragraph 3—
(a) for “its Member State of reference” substitute “ the United Kingdom ”;
(b) for “Union”, both times it occurs, substitute “ United Kingdom ”;
(c) for “competent authority of the Member State of reference” substitute “ FCA ”.
(5) Omit paragraph 4.
(6) In paragraph 5—
(a) in the first subparagraph—
(i) for “competent authority of its Member State of reference” substitute “ FCA ”;
(ii) for “satisfy the competent authority” substitute “ satisfy the FCA ”;
(iii) for “Union” substitute “ United Kingdom ”;
(b) in the second subparagraph—
(i) for “competent authority” substitute “ FCA ”;
(ii) for “2, 3 and 4” substitute “ 2 and 3 ”;
(c) in the third subparagraph—
(i) in the first sentence—
(aa) for “competent authority” substitute “ FCA ”;
(bb) for “2, 3 and 4” substitute “ 2 and 3 ”;
(ii) in point (a)—
(aa) for “competent authority of the Member State of reference” substitute “ FCA ”;
(bb) for “regulatory technical standards adopted” substitute “ technical standards made ”;
(cc) for “allows the competent authority” substitute “ allows the FCA ”;
(iii) in point (b), for “competent authority” substitute “ FCA ”.
(7) Omit paragraphs 6 and 7.
(8) In paragraph 8, for “competent authority of the Member State of reference” substitute “ FCA ”.
(9) In paragraph 9—
(a) in the first subparagraph—
(i) for “ESMA may develop draft regulatory” substitute “ The FCA may make ”;
(ii) omit the words from “and, in particular,” to the end;
(b) omit the second and third subparagraphs.

---
Source: https://www.legislation.gov.uk/uksi/2019/657/regulation/29 (the official version)
Page: https://openlegislation.uk/benchmarks-amendment-and-transitional-provision-eu-exit-regulations-2019/regulation-29
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.