PART 3FR Scheme Funding

Application of levy or contributions collectedI113

1

The FR Scheme administrator must only use the levy collected under regulation 8 or 10(1), or any contribution referred to in regulation 10(2), for—

a

the purposes of the FR Scheme, including any purposes incidental to the FR Scheme;

b

the administration of the FR Scheme.

2

These Regulations do not prevent or require the repayment by the FR Scheme administrator of contributions.

3

Paragraph (2) does not affect the requirement in regulation 12(1)(b) to make an adjustment.