Part 2: Benchmarks Section 14: Use of Article 23A benchmarks
This section introduces two new provisions in the BMR, Articles 23B and 23C, which relate to the use of a benchmark once it is designated as an Article 23A benchmark.
	Paragraph 1 of Article 23B provides that all use by supervised entities of an Article 23A benchmark will be prohibited, except where the FCA makes exemptions under paragraph 2 of Article 23B(2) or Article 23C.
	Paragraph 2 requires the FCA to publish a notice before the Article 23A designation takes effect, if it intends to delay the prohibition in paragraph 1 until a specified date. The specified date must be before the end of the period of four months beginning with the day on which the Article 23A designation takes effect.
	Paragraph 4 requires that the FCA must publish the notice in a way that is best calculated to bring it to the attention of supervised entities, as well as the public.
	Paragraph 5 permits the FCA to charge a reasonable fee for providing a person with a copy of a notice published under this Article.
	Article 23C paragraphs 1-3 grant the FCA the power to specify and permit certain legacy use by supervised entities of an Article 23A benchmark. The FCA may alter or withdraw its permission by issuing a notice.
	Paragraph 4 requires that the FCA may only give, alter or withdraw permission for legacy use if it advances either or both of its statutory objectives of consumer protection and market integrity. The FCA may also consider the likely effect outside the UK of the exercise of the power, as per paragraph 5.
	Paragraphs 6-9 sets out requirements regarding the content and publication of the notice. Paragraph 10 defines what "legacy use" is, which is use of the benchmark that is not "new use", which has the same meaning as under Article 21A(2), in connection with a prohibition that has been imposed under Article 23B.
	Article 23C(9)(b) also permits the FCA to charge a reasonable fee for providing a person with a copy of a notice published under this Article.