68. Specified Benchmarks

(1) The following are specified kinds of activity —
(a) Providing Information in Relation to a Specified Benchmark;
(b) Administering a Specified Benchmark.
(2) In this Chapter —
(a) "Administering" a Specified Benchmark means —
(i) administering the arrangements for determining a Specified Benchmark;
(ii) collecting, analysing or processing information or expressions of opinion provided for the purpose of determining a Specified Benchmark;
(iii) determining a Specified Benchmark through the application of a formula or other method of calculation to the information or expressions of opinion provided for that purpose;
(b) "Providing Information" in relation to a Specified Benchmark means providing any information or expression of opinion that is —
(i) provided to, or for the purpose of passing to, a person who has permission to carry on the activity specified in sub-paragraph (1)(b) in relation to that Specified Benchmark;
(ii) required in connection with the determination of the Specified Benchmark; and
(iii) provided for the purpose of determining the Specified Benchmark; and
(c) "Specified Benchmark" means a benchmark specified in the Rules made by the Regulator.