(1) [deleted]

(2) The Bank of England may charge an Operator a periodical fee.

(3) Any fee chargeable by the Bank of England under this regulation shall not exceed an amount which reasonably represents the amount of costs incurred -

(a) [deleted]

(b) in the case of a periodical fee, in satisfying itself that the Operator, his rules and practices and the relevant system continue to meet the requirements of Schedule 1 and that the Operator is complying with any obligations imposed on him by or under these Regulations.

(4) For the purposes of paragraph (3), the costs incurred by the Bank of England shall be determined on the basis that they include such proportion of the following matters as are properly attributable to the performance of the relevant function -

(a) expenditure on staff, equipment, premises, facilities, research and development;

(b) [deleted]

(c) any notional interest incurred on any capital expended on or in connection with the performance of the function; and