PART 5Amendments to the Act

Amendments to section 22 (regulated activities)38

Section 22 M1 of the Act (regulated activities) is amended as follows—

a

at the end of subsection (1A)(a) omit “or”;

b

at the end of subsection (1A)(b) insert “ , or ”;

c

after subsection (1A)(b) insert—

c

administering a benchmark.

d

in subsection (6), for “Benchmark” substitute—

For the purposes of subsection (1A)(b), “benchmark

e

after subsection (6) insert—

6A

For the purposes of subsection (1A)(c), “benchmark” has the meaning given by Article 3 of the EU Benchmarks Regulation 2016, and “administering” a benchmark means acting as an administrator of that benchmark within the meaning of that Article.