PART 2U.K.Amendment of EU Regulations

30.—(1) Article 33 (endorsement of benchmarks provided in a third country) is amended as follows.

(2) In paragraph 1—

(a)in the first subparagraph—

(i)in the opening words—

(aa)for “Union”, each time it occurs, substitute “ United Kingdom ”;

(bb)for “relevant competent authority” substitute “ FCA ”;

(ii)in point (a), for “its competent authority” substitute “ the FCA ”;

(iii)in point (c), for “Union” substitute “ United Kingdom ”;

(b)in the second subparagraph, for “competent authority” substitute “ FCA ”.

(3) In paragraph 2, for “competent authority” substitute “ FCA ”.

(4) In paragraph 3—

(a)for “relevant competent authority” substitute “ FCA ”;

(b)omit the second sentence.

(5) In paragraph 6—

(a)for “competent authority of the endorsing administrator or other supervised entity” substitute “ FCA ”;

(b)omit “and shall inform ESMA thereof”.

(6) In paragraph 7—

(a)for the words from “Commission”, where first occurring, to “measures” substitute “ Treasury may make regulations ”;

(b)for “relevant competent authorities” substitute “ FCA ”;

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

(d)for “The Commission”, where second occurring, substitute “ When determining the conditions, the Treasury ”.

Commencement Information