PART 2Amendment of EU Regulations

CHAPTER 1Amendment of Regulation (EU) 2016/1011

Benchmark statementI123

1

Article 27 (benchmark statement) is amended as follows.

2

In paragraph 1—

a

for “register referred to in Article 36” substitute “ FCA register ”;

b

for “Union”, both times it occurs, substitute “ United Kingdom ”.

F12A

In paragraph 2a, in the second subparagraph—

a

for “EU Climate Transition Benchmark or UK Paris-aligned Benchmark” substitute “ UK Climate Transition Benchmark or UK Paris-aligned Benchmark ”;

b

for “EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks” substitute “ UK Climate Transition Benchmarks and UK Paris-aligned Benchmarks ”;

c

omit the words “in accordance with” to the end.

2B

In paragraph 2b, for “The Commission is empowered to adopt delegated acts in accordance with Article 49” substitute “ The Treasury may make regulations ”.

3

In paragraph 3—

a

in the first subparagraph, for “ESMA shall develop draft regulatory” substitute “ The FCA may make ”;

b

in the second subparagraph, for “ESMA” substitute “ The FCA ”;

c

omit the third and fourth subparagraphs.