(1) The Authority and the Commissioners may impose charges -
(a) on applicants for registration;
(b) on relevant persons supervised by them.
(2) Charges levied under paragraph (1) must not exceed such amount as the Authority or the Commissioners (as the case may be) consider will enable them to meet any expenses reasonably incurred by them in carrying out their functions under these Regulations or for any incidental purpose.
(3) Without prejudice to the generality of paragraph (2), a charge may be levied in respect of each of the premises at which a person carries on (or proposes to carry on) business.
(4) The Authority must pay to the Treasury any amounts received by the Financial Services Authority during the financial year beginning with 1st April 2012 year by way of penalties imposed under regulation 42 after deducting any amounts the Financial Services Authority has, prior to 1st April 2013, applied towards expenses incurred by it in carrying out its functions under these Reg