Enacted Bill, Royal Assent 15th December 2021.
On 8 September 2021, House of Lords published the Critical Benchmarks (References and Administrators' Liability) Bill [HL] entitled an Act to amend the Benchmarks Regulation (UK BMR) (Retained EU Law).
The condensed text below shows the proposed amendments from the Bill for affected provisions only.
Provisions amended
- Article 2 Scope
- Article 23G Critical benchmarks provided for different currencies etc
Provisions inserted
- Article 23FA References to Article 23A benchmarks
- Article 23FB References to Article 23A benchmarks: further provision
- Article 23FC Liability of administrator of Article 23A benchmark
Article 2 Scope
1. This Regulation applies to the provision of benchmarks, the contribution of input data to a benchmark and the use of a benchmark within the United Kingdom.
2. This Regulation shall not apply to:
(a) a central bank;
(b) a public authority, where it contributes data to, provides, or has control over the provision
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