(This note is not part of the Order)

This Order relates to provisions of the Financial Services and Markets Act 2000 (c.8) ("FSMA 2000") and the Financial Services Act 2012 (c.21) ("the 2012 Act") which require the regulator of financial services (the Financial Services Authority for the period up to 31 March 2013 and, for the period after that date, the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England) to pay to the Treasury the amounts received by the regulator by way of penalties imposed under FSMA 2000 or (in the case of the Bank of England) under the Banking Act 2009 (c.1). The regulator must make the payment after deducting its enforcement costs.

This Order supplements the definitions of enforcement costs in FSMA 2000 and the 2012 Act in two ways.