Regulation 19 Mandatory contribution to a critical benchmark

(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”.