Variation of permission: continued contribution to a benchmark by authorised person
28.—(1) This regulation applies where—
(a)the FCA imposes a requirement on an authorised person under Article 23(6) of the EU Benchmarks Regulation 2016 to contribute input data to the administrator of a specified benchmark;
(b)the authorised person does not have a permission to carry on an activity of the kind specified in article 63O(1)(a) of the RAO; and
(c)the administrator of the specified benchmark does not have a permission to carry on an activity of the kind specified in article 63S of the RAO.
(2) The requirement takes effect when the FCA notifies the authorised person in writing.
(3) The authorised person’s Part 4A permission is treated as having been varied by the FCA to include the activity in article 63O(1)(a) of the RAO with effect from the day on which the FCA exercises its powers under Article 23(6) of the EU Benchmarks Regulation 2016.