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Version date: 1 July 2021
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Article 23C Exception from the prohibition for legacy use of Article 23A benchmark

1. This Article applies to an Article 23A benchmark.

2. The FCA may, by publishing a notice, permit some or all legacy use of the benchmark by supervised entities.

3. The FCA may, by publishing a notice, alter or withdraw a permission under paragraph 2.

4. The FCA may only exercise a power under paragraph 2 or 3 if it considers it desirable to do so in order to advance either or both of the following -

(a) its consumer protection objective (see section 1C of FSMA);

(b) its integrity objective (see section 1D of that Act).

5. In exercising a power under paragraph 2 or 3 in relation to a benchmark that is used outside the United Kingdom, the FCA may, among other things, have regard to the likely effect outside the United Kingdom of the exercise of the power.

6. A notice under this Article may -

(a) make provision by reference to any aspect of the legacy use of the benchmark, including the persons involved in the use;

(b) provide that the permission has effect only during a period specifi

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