(1) An applicant for a recognition order under this Part must pay such fee in respect of his application as the Secretary of State may by regulations prescribe; and no application is to be regarded as duly made unless this subsection is complied with.
(2) The Secretary of State may by regulations prescribe periodical fees to be paid by -
(a) every recognised supervisory body,
(b) every recognised qualifying body,
(c) every Auditor General, and
(d) every registered third country auditor.
(3) Fees received by the Secretary of State by virtue of this Part are to be paid into the Consolidated Fund.
(4) Regulations under this section are subject to negative resolution procedure.