The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019

Withdrawal of registration of an administrator located in a third country U.K.

28.—(1) Article 31 (withdrawal of registration of an administrator located in a third country) is amended as follows.

(2) In paragraph 1—

(a) in the opening words—

(i) for “ESMA” substitute “ The FCA ”;

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

(b) in point (b), for the words from “Commission” to the end substitute “ Treasury have made regulations in accordance with Article 30(2) or (3) (on or after [F1 IP completion day]) or the European Commission adopted an implementing decision in accordance with Article 30(2) or (3) of the EU Benchmarks Regulation (before [F1 IP completion day]) ”.

(3) In paragraph 2—

(a) in the opening words, for “ESMA” substitute “ The FCA ”;

(b) in point (a)—

(i) for “ESMA” substitute “ the FCA ”;

(ii) for “Union” substitute “ United Kingdom ”;

(c) in point (b), for “ESMA” substitute “ the FCA ”.

(4) In paragraph 3, for the words from “ESMA shall” to “delay and” substitute “ The FCA ”.

Textual Amendments

F1 Words in reg. 28(2)(b) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 34(h)

Commencement Information

I1 Reg. 28 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)