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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 6 April 2021 - onwards
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Schedule 1A, Part II Funding (paras. 11-14)

Omitted from 6 April 2021

Section 3S

Meaning of "the relevant costs"

11

(1) In this Part of this Schedule "the relevant costs" means -

(a) the expenses incurred by the FCA in establishing the consumer financial education body; and

(b) the expenses incurred, or expected to be incurred, by the consumer financial education body in connection with the discharge of the consumer financial education function.

(2) For the purposes of sub-paragraph (1)(a) it does not matter when the expenses were incurred.

Funding of the relevant costs by authorised persons, payment service providers or electronic money issuers

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(1) For the purpose of meeting a proportion of the relevant costs the FCA may makes rules requiring -

(a) authorised persons, electronic money issuers or payment service providers, or

(b) any specified class of authorised person, electronic money issuer or payment service provider,

to pay to the FCA specified amounts or amounts calculated in a specified way.

(2) Before making the rules the FCA

Comparing proposed amendment...