Schedule ANNEX 4, paragraph 2

The modifications referred to in paragraph 1(a) are the following— Article 11(1) has effect as if— point (a) were omitted, and 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; 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 ”.

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Source: legislation.gov.uk · retrieved 2026-09-04