1. A natural or legal person located in the United Kingdom that intends to act as an administrator shall apply to the FCA in order to receive:
(a) authorisation if it provides or intends to provide indices which are used or intended to be used as benchmarks within the meaning of this Regulation;
(b) registration if it is a supervised entity, other than an administrator, that provides or intends to provide indices which are used or intended to be used as benchmarks within the meaning of this Regulation, on condition that the activity of provision of a benchmark is not prevented by the sectoral discipline applying to the supervised entity and that none of the indices provided would qualify as a critical benchmark; or
(c) registration if it provides or intends to provide only indices which would qualify as non-significant benchmarks.
2. An authorised or registered administrator shall comply at all times with the conditions laid down in this Regulation and shall notify the FCA of any mater
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