10. Prohibition on new use where administrator to cease providing critical benchmark

In the Benchmarks Regulation, after Article 21 insert -

"Article 21A

Prohibition on new use where administrator to cease providing critical benchmark

1. Where the FCA has completed an assessment of a critical benchmark under Article 21(2), the FCA may, by publishing a notice, prohibit some or all new use of the benchmark by supervised entities.

2. In paragraph 1, the reference to new use of a benchmark is to doing the following on or after the day on which the prohibition takes effect ("the prohibition day") -

(a) issuing a financial instrument which references the benchmark, or amending the terms of a financial instrument so as to include a reference to the benchmark where the instrument did not reference the benchmark immediately before the prohibition day;

(b) determining the amount payable under a financial instrument or a financial contract by referencing the benchmark, where the instrument or contract did not reference the benchmark immediately before the prohibition day;

(c) bei

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