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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.”.
Marginal Citations
M1Section 22 was amended by section 7(1) of the Financial Services Act 2012.