PART 7Transitional provisions
Authorisations and registrations granted by the FCA prior to 27th February 201866
1
Regulations 61(1), 62(1) and 63(1) take effect subject to paragraphs (2) and (3).
2
A person who—
a
does not have a Part 4A permission; and
b
obtained an authorisation or registration from the FCA under Article 34 of the EU Benchmarks Regulation 2016 before 27th February 2018;
shall be deemed to have a Part 4A permission granted by the FCA on 27th February 2018 in relation to the activity specified in article 63S(1) of the RAO.
3
A person who—
a
has a Part 4A permission but not in relation to the activity specified in article 63S(1) of the RAO; and
b
obtained an authorisation or registration from the FCA under Article 34 of the EU Benchmarks Regulation 2016 before 27th February 2018;
shall be deemed to have their permission varied by the FCA on 27th February 2018 to include the activity specified in article 63S(1) of the RAO.