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Critical Benchmarks (References And Administrators’ Liability) Act 2021

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Explanatory Notes

Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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Section 4 sets out the extent of the Act (see paragraphs 82-85). This covers both the jurisdictions for which the Act forms part of the law and where it has application. Financial services is a reserved matter in the UK, and this Act extends to England and Wales, Scotland and Northern Ireland.