1. This Regulation applies in relation to an Article 23A benchmark with -

(a) the modifications listed in paragraph 2, and

(b) any modifications specified in a notice given by the FCA to the benchmark administrator under paragraph 6.

2. The modifications referred to in paragraph 1(a) are the following -

(a) Article 11(1) has effect as if -

(i) point (a) were omitted, and

(ii) in point (d), the words "and representative" (in the first place they occur) and "and representative of the market or economic reality that the benchmark is intended to measure" were omitted;

(b) point (a) in Article 27(1) has effect as if for "and the circumstances in which such measurement may become unreliable" there were substituted "immediately before it became an Article 23A benchmark".