(1) The Bank of England ("the Bank") must in respect of each of its financial years pay to the Treasury its penalty receipts after deducting its enforcement costs.
(2) The Bank's "penalty receipts" in respect of a financial year are any amounts received by the Bank during the year by way of penalties imposed under any of the following provisions -
(a) sections 192K, 309U, 309Z2 and 312F of FSMA 2000, and
(b) sections 198 and 206T of the Banking Act 2009.
(3) The Bank's "enforcement costs" in respect of a financial year are the expenses incurred by it during the year in connection with -
(a) the exercise, or consideration of the possible exercise, of any of its enforcement powers in particular cases, or
(b) the recovery of penalties imposed under any of the provisions mentioned in subsection (2).
(4) For this purpose the Bank's enforcement powers are -
(a) its powers under any of the provisions mentioned in subsection (5),
(b) its powers under any other enactment specified by the Treasu
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