Section 8(6)

In Article 20(1) of the Benchmarks Regulation (critical benchmarks: conditions and other matters)— in the opening words of point (c), for “all” substitute “ both ”, omit point (c)(i), and after point (c) insert— the benchmark has a sufficient number of appropriate market-led substitutes that it does not fulfil the criterion in point (c)(ii), but: it is not reasonably practicable for one or more users of the benchmark to switch to one of those substitutes, and the benchmark fulfils the criterion in point (c)(iii).

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