Part 1: Critical Benchmarks Section 4: Interpretation, extent and short title
Section 4(1) defines "the Benchmarks Regulation" as Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds. This is a reference to the BMR as it has effect in the UK following the UK’s exit from the EU and pursuant to the European Union (Withdrawal) Act 2018 (see section 20(3) of the Interpretation Act 1978).
	Section 4(2) provides that the Act extends to England and Wales, Scotland and Northern Ireland.
	Section 4(3) provides that the provisions of the Act come into force on the day on which it is passed.
	Section 4(4) provides that the Act may be cited as the Critical Benchmarks (References and Administrators’ Liability) Act 2021.