| 11.1 | Introduction |
| 11.1.1 | G | (1) | FEES TP 11 deals with transitional arrangements for firms that will administer specified benchmarks by operation of the "Benchmarks Order 2015". |
| | | (2) | The "Benchmarks Order 2015" is the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2015 (SI 2015/369) |
| 11.1.2 | R | FEES TP 11 remains in force until all fees in FEES TP 11.2 have been paid in full. |
| 11.2 | Exceptional fee |
| 11.2.1 | R | FEES TP 11.2 applies to a firm which: |
| | | (1) | is treated as having its permission varied to include administering a specified benchmark under article 4 of the Benchmarks Order 2015; or |
| | | (2) | meets the following criteria: |
| | | | (a) | its permission, before 1 April 2015, included administering a specified benchmark; |
| | | | (b) | on 1 April 2015, it is administering more than one specified benchmark; and |
| | | | (c) | it is not a firm in FEES TP 11.2.1R(1). |
| 11.2.2 | R | A firm in FEES TP 11.2.1R is treated as if: |
| | | | it had applied to carry on "administering a specified benchmark" under FEES 3.2.7R(ga)(ii) on 1 April 2015; and |
| | | | its due date for the payment of the relevant fee is 30 days after 1 April 2015. |
