{
  "url": "https://openlegislation.uk/eu-regulation-2016-1011/annex-4/division-2",
  "json_url": "https://openlegislation.uk/eu-regulation-2016-1011/annex-4/division-2.json",
  "legislation": "eur/2016/1011",
  "legislation_title": "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 (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2016-1011",
  "path": "annex/4/division/2",
  "kind": "division",
  "number": "2",
  "heading": null,
  "text": "The modifications referred to in paragraph 1(a) are the following—\n(a)Article 11(1) has effect as if—\n(i)point (a) were omitted, and\n(ii)in point (d), the words “and representative” (in the first place they occur) and “and representative of the market or economic reality that the benchmark is intended to measure” were omitted;\n(b)point (a) in Article 27(1) has effect as if for “and the circumstances in which such measurement may become unreliable” there were substituted “ immediately before it became an Article 23A benchmark ”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Annex 4 inserted (1.7.2021) by Financial Services Act 2021 (c. 22), ss. 15(2), 49(5); S.I. 2021/739, reg. 3(h)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2016/1011/annex/4/division/2",
    "retrieved_at": "2026-11-01T14:45:45.723985+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."
}