(1) Article 15 (code of conduct) is amended as follows.

(2) In paragraph 4, for "a relevant competent authority" substitute "the FCA".

(3) In paragraph 5 -

(a) for “relevant competent authority”, each time it occurs, substitute “FCA”;

(b) for “application of the decision to include a critical benchmark in the list referred to in Article 20(1) ” substitute “the Treasury making regulations under Articles A20(5) or (6), or 20(5) specifying a benchmark as critical”.

(4) In paragraph 6 -

(a) in the first subparagraph, for "ESMA shall develop draft regulatory" substitute "The FCA may make";

(b) in the second subparagraph, for "ESMA" substitute "The FCA";

(c) omit the third and fourth subparagraphs.