SCHEDULE 5 Benchmarks: Minor and Consequential Amendments
Financial Services Act 2021 (2021 c 22) | Legislation

SCHEDULE 5 Benchmarks: Minor and Consequential Amendments

Section 21

1

The Benchmarks Regulation is amended as follows.

2

(1)     Article 3(1) (definitions) is amended as follows.

(2)     In point (6) (administrator)—

(a)     after “means†insert—

“(a)     â€, and

(b)     at the end insert “, or

(b)     in the case of an Article 23A benchmark, a natural or legal person that would have control over the provision of the benchmark but for Article 23D;â€.

(3)     After point (25) insert—

“(25A)     'Article 23A benchmark' has the meaning given in Article 23A(14);â€.

(4)     After point (36) insert—

“(37)     'working day' means a day other than—

(a)     Saturday or Sunday,

(b)     Christmas Day or Good Friday, or

(c)     a day which is a bank holiday under the Banking and Financial Dealings Act 1971 in England and Wales.â€

3

In Article 3, after paragraph 1 insert—

“1A     References in this Regulation to the capability of a benchmark to measure the underlying market or economic reality are references to both its current capability to do so and its capability to do so in the future.â€

4

In Article 11 (input data),

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