(1) Article 31 (withdrawal of registration of an administrator located in a third country) is amended as follows.
(2) In paragraph 1 -
(a) in the opening words -
(i) for "ESMA" substitute "The FCA";
(ii) for "register referred to in Article 36" substitute "FCA register";
(b) in point (b), for the words from "Commission" to the end substitute "Treasury have made regulations in accordance with Article 30(2) or (3) (on or after IP completion day) or the European Commission adopted an implementing decision in accordance with Article 30(2) or (3) of the EU Benchmarks Regulation (before IP completion day)".
(3) In paragraph 2 -
(a) in the opening words, for "ESMA" substitute "The FCA";
(b) in point (a) -
(i) for "ESMA" substitute "the FCA";
(ii) for "Union" substitute "United Kingdom";
(c) in point (b), for "ESMA" substitute "the FCA".
(4) In paragraph 3, for the words from "ESMA shall" to "delay and" substitute "The FCA".