(1) In this section -

"authorisation" means an authorisation granted by the Bank under Part V of the Central Bank Act 1997, to carry on a regulated business.

(2) The holder of an authorisation or, subject to the Competition Act 1991, a group of holders of authorisations in respect of a service offered jointly by the group, shall notify the Bank of every proposal -

(a) to increase any charge which has been previously notified to the Bank, or

(b) to impose any charge in relation to the provision of a service to a customer or to a group of customers that has not been previously notified to the Bank.

(3) Every notification under subsection (2) must be accompanied by -

(a) subject to subsection (5), such fee as the Bank decides for each notification, being a fee that does not exceed the prescribed maximum amount, and

(b) a statement of the commercial justification for the proposal including a detailed statement of cost, and

(c) details of the estimated amount of additional income accruing from the proposal.