S. 66 in force at 1.1.2015 by S.I. 2014/3320, art. 4(c)

http://www.legislation.gov.uk/ukpga/2014/21/section/66/2017-03-06Water Act 2014An Act to make provision about the water industry; about compensation for modification of licences to abstract water; about main river maps; about records of waterworks; for the regulation of the water environment; about the provision of flood insurance for household premises; about internal drainage boards; about Regional Flood and Coastal Committees; and for connected purposes.texttext/xmlenStatute Law Database2024-04-02Expert Participation2017-03-06Part 4Flood insuranceThe Flood Reinsurance Scheme
66Scheme funding1

The Secretary of State may, with the consent of the Treasury, make regulations requiring relevant insurers to pay to the FR Scheme administrator—

a

a levy, the amount and timing of which is to be determined in accordance with the regulations;

b

such further amounts, by way of levy or contribution, as may be requested by the FR Scheme administrator from time to time in accordance with the FR Scheme.

2

Regulations under subsection (1) may make provision as to—

a

the circumstances in which a request under subsection (1)(b) may be made;

b

the amounts that may be requested under subsection (1)(b).

3

The Secretary of State may by regulations make provision for amounts payable under subsection (1) to be recoverable summarily (or in Scotland recoverable) as a civil debt.

4

The Secretary of State may by regulations make provision as to the application of any amounts paid under subsection (1).

5

The Secretary of State may by regulations provide that, where such conditions as are specified in the regulations as regards the reserves of the FR Scheme are satisfied, the FR Scheme administrator must pay to the Secretary of State an amount of the reserves to be determined in accordance with the regulations.

6

Regulations under subsection (5) may—

a

define “reserves”;

b

make provision about determining the amount of the reserves of the FR Scheme.

7

Before making regulations under subsection (5), the Secretary of State must obtain the consent of the FR Scheme administrator, which is not to be unreasonably withheld.

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<ref href="http://www.legislation.gov.uk/id/ukpga/2014/21/section/66">S. 66</ref>
in force at 1.1.2015 by
<ref href="http://www.legislation.gov.uk/id/uksi/2014/3320">S.I. 2014/3320</ref>
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<ref href="http://www.legislation.gov.uk/id/uksi/2014/3320/article/4/c">art. 4(c)</ref>
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<em>The Flood Reinsurance Scheme</em>
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66
</num>
<heading>Scheme funding</heading>
<subsection eId="section-66-1">
<num>1</num>
<intro>
<p>The Secretary of State may, with the consent of the Treasury, make regulations requiring relevant insurers to pay to the FR Scheme administrator—</p>
</intro>
<paragraph eId="section-66-1-a">
<num>a</num>
<content>
<p>a levy, the amount and timing of which is to be determined in accordance with the regulations;</p>
</content>
</paragraph>
<paragraph eId="section-66-1-b">
<num>b</num>
<content>
<p>such further amounts, by way of levy or contribution, as may be requested by the FR Scheme administrator from time to time in accordance with the FR Scheme.</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-66-2">
<num>2</num>
<intro>
<p>Regulations under subsection (1) may make provision as to—</p>
</intro>
<paragraph eId="section-66-2-a">
<num>a</num>
<content>
<p>the circumstances in which a request under subsection (1)(b) may be made;</p>
</content>
</paragraph>
<paragraph eId="section-66-2-b">
<num>b</num>
<content>
<p>the amounts that may be requested under subsection (1)(b).</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-66-3">
<num>3</num>
<content>
<p>The Secretary of State may by regulations make provision for amounts payable under subsection (1) to be recoverable summarily (or in Scotland recoverable) as a civil debt.</p>
</content>
</subsection>
<subsection eId="section-66-4">
<num>4</num>
<content>
<p>The Secretary of State may by regulations make provision as to the application of any amounts paid under subsection (1).</p>
</content>
</subsection>
<subsection eId="section-66-5">
<num>5</num>
<content>
<p>The Secretary of State may by regulations provide that, where such conditions as are specified in the regulations as regards the reserves of the FR Scheme are satisfied, the FR Scheme administrator must pay to the Secretary of State an amount of the reserves to be determined in accordance with the regulations.</p>
</content>
</subsection>
<subsection eId="section-66-6">
<num>6</num>
<intro>
<p>Regulations under subsection (5) may—</p>
</intro>
<paragraph eId="section-66-6-a">
<num>a</num>
<content>
<p>define “reserves”;</p>
</content>
</paragraph>
<paragraph eId="section-66-6-b">
<num>b</num>
<content>
<p>make provision about determining the amount of the reserves of the FR Scheme.</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-66-7">
<num>7</num>
<content>
<p>Before making regulations under subsection (5), the Secretary of State must obtain the consent of the FR Scheme administrator, which is not to be unreasonably withheld.</p>
</content>
</subsection>
</section>
</hcontainer>
</part>
</portionBody>
</portion>
</akomaNtoso>