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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 26 July 2013 - onwards
  Version 3 of 3    

234A. Funding by consumer credit licensees etc.

Omitted from 26 July 2013

(1) For the purpose of funding -

(a) the establishment of the ombudsman scheme so far as it relates to the consumer credit jurisdiction (whenever any relevant expense is incurred), and

(b) its operation in relation to the consumer credit jurisdiction,

the scheme operator may from time to time with the approval of the FCA determine a sum which is to be raised by way of contributions under this section.

(2) A sum determined under subsection (1) may include a component to cover the costs of the collection of contributions to that sum (''collection costs'') under this section.

(3) The scheme operator must notify the OFT of every determination under subsection (1).

(4) The OFT must give general notice of every determination so notified.

(5) The OFT may by general notice impose requirements on -

(a) licensees to whom this section applies, or

(b) persons who make applications to which this section applies,

to pay contributions to the OFT for the purpose of raising sums determined under s

Comparing proposed amendment...