(7)According to Article 30(2) of Regulation (EU) 2016/1011, requirements in the third-country legal system are to be equivalent to the requirements laid down in Regulation (EU) 2016/1011. Licensed benchmark administrators are subject to the conditions of the licence and a range of legislative requirements. Legally binding requirements for benchmark administrators are set out in the FMC Act, the Financial Service Providers (Registration and Dispute Resolution) Act 2008, and the Financial Service Providers (Registration) Regulations 2020.