approved index

47in relation to permitted links:

1. (a) an index that is:
   1. (i) calculated independently;
   2. (ii) published at least once every week;
   3. (iii) based on constituents that are permitted links; and
   4. (iv) calculated on a basis that is made available to the public, and that includes both the rules for including and excluding constituents and the rules for valuation which must use an arithmetic average of the value of the constituents; or
2. (aa) relevant indices meeting the requirements of COLL 5.2.33 R; or117
3. (b) a national index of retail prices published by or under the authority of a government, or by a body recognised under the national legislation,75 of a 60Zone A country;60 or
4. (c) an index that is:
   1. (i) based on constituents that are permitted links; and
   2. (ii) in respect of which a derivative contract is listed52; or52
5. (d) the average earnings index when used for the purposes of orders made under section 148 of the Social Security Administration Act 1992 by the Department for Work and Pensions.52