14 Use of Article 23A benchmarks
Financial Services Act 2021 (2021 c 22) | Legislation

14  Use of Article 23A benchmarks

In the Benchmarks Regulation, after Article 23A (inserted by section 13) insert—

“Article 23B Prohibition on use of Article 23A benchmark

1     Supervised entities must not use an Article 23A benchmark, except where permitted to do so under paragraph 2 or Article 23C.

2     The FCA may, by publishing a notice before the day on which the designation of the benchmark under Article 23A takes effect, provide that the prohibition in paragraph 1 does not take effect until a date specified in the notice.

3     The date specified in a notice under paragraph 2 must fall before the end of the period of four months beginning with the day on which the designation of the benchmark under Article 23A takes effect.

4     A notice published under this Article must be published

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Strict liability

Strict liabilityStrict liabilityWhen an offence does not require proof of a mental element it is an offence of strict liability. There are some common law offences of strict liability (eg public nuisance, outraging public decency and contempt) most though are statutory, arising often under

LEXISNEXIS

Acknowledgment of service

Acknowledgment of serviceThis Practice Note explains when an acknowledgment of service is required (CPR 10) and the consequences of a failure to file an acknowledgment of service. It identifies the correct form to use, what information must be included and who must to sign the form. The different

LEXISNEXIS

The Standard Provisions of the Society of Trust and Estate Practitioners (STEP)

The Standard Provisions of the Society of Trust and Estate Practitioners (STEP)FORTHCOMING CHANGE: The Society of Trust and Estate Practitioners (STEP) is currently reviewing and revising the STEP Standard provisions and intends to release the 3rd edition later in 2021.Trustees' powersAs trusts can

LEXISNEXIS

The British Franchise Association (BFA)

The British Franchise Association (BFA)This Practice Note examines the role and remit of the British Franchise Association (the BFA) in the franchise industry in the UK. It looks at the legislative and regulatory framework in the franchise industry, the membership criteria of the BFA, the BFA’s Code