Article 3 Amendments of the Financial Services and Markets Act 2000

(1)

The Act is amended as follows.

(2)

In section 1G (meaning of “consumer”), in subsection (1)—

(a)

at the end of paragraph (c) omit “or”; and

(b)

at the end of paragraph (d) insert—

“, or

(e)
have rights, interests or obligations that are affected by the level of a regulated benchmark”.

(3)

In section 1H (further interpretative provisions for sections 1B to 1G), after subsection (7) insert—

“(7A)
“Regulated benchmark” means a benchmark, as defined in section 22(6), in relation to which any provision made under section 22(1A)(b) has effect”.

(4)

In section 425A^f1 (consumers: regulated activities etc carried on by authorised persons)—

(a)

at the end of subsection (2)(a), omit “or”;

(b)

at the end of subsection (2)(b), after “services” insert—

“; or

(c)
whose rights, interests or obligations are affected by the level of a regulated benchmark”; and

(c)

in subsection (7), after the definition of “credit institution”, insert—

““regulated benchmark” means a benchmark, as defined in section 22(6), in relation to which any provision made under section 22(1A)(b) has effect.”.

Annotations

Footnotes

f1: Inserted by sections 24(1) and (2) of and Schedule 2, Part 1, paragraphs 1 and 32 to the Financial Services Act 2010 (c. 28).