(1) Article 28 of the Benchmarks Regulation (changes to and cessation of a benchmark) is amended as follows.

(2) In paragraph 1 -

(a) omit ", together with the benchmark statement referred to in Article 27,",

(b) for "a procedure" substitute "a robust procedure", and

(c) omit "and shall be updated and published whenever a material change occurs".

(3) After paragraph 1 insert -

"1A. The procedure described in paragraph 1 -

(a) must be published with the benchmark statement for the benchmark when that statement is published in accordance with the first or second subparagraph of Article 27(1), and

(b) must be updated and published whenever a material change occurs.

1B. In the case of a critical benchmark -

(a) on the day on which a procedure described in paragraph 1 is published in accordance with paragraph 1A(a), the administrator must give the FCA an assessment of the matters described in paragraph 1C,