Regulation 3 Amendment of Regulation (EU) 2016/1011

(1)

Article 51(5) (transitional provisions) of Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014^f1 is amended as follows.

(2)

In subparagraph (a), for “31 December 2025” substitute “31 December 2030”.

(3)

In subparagraph (b)—

(a)

for “1 January 2026” substitute “1 January 2031”;

(b)

for “31 December 2025” substitute “31 December 2030”.

Annotations

Footnotes

f1: EUR 2016/1011. Paragraphs (5), (5A) and (5B) of Article 51 were substituted for paragraph (5) by S.I. 2019/657 as amended by S.I. 2020/1301. Paragraph (5) was subsequently amended by section 20 of the Financial Services Act 2021.