(1) Paragraph (2) applies to a person ("B") who, immediately before 2nd April 2013 was carrying on any of the following activities in relation to a benchmark that, on 2nd April 2013 is a specified benchmark -

(a) administering the arrangements for determining the benchmark;

(b) collecting, analysing or processing information or expressions of opinion provided by third parties for the purpose of determining the benchmark;

(c) determining the benchmark through the application of a formula or other method of calculation to the information or expressions of opinion provided for that purpose.

(2) B is to be treated as having a Part 4A permission to carry on the activity of administering a specified benchmark.

(3) The Part 4A permission which B is to be treated as having is referred to in this Order as an "interim permission".

(4) B's interim permission lapses on the earliest of -

(a) the date specified in a notice of cancellation of permission given under this article by the FCA;

(b) the cancellation of the permission by the FCA under section 55H of the Act (variation by FCA at request of authorised person); or