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Changes over time for: Section 223
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Version Superseded: 16/05/2022
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Changes to legislation:
Financial Services and Markets Act 2000, Section 223 is up to date with all changes known to be in force on or before 24 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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223 Management expenses.U.K.
This
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Nodiadau Esboniadol
(1)The amount which the scheme manager may recover, from the sums levied under the scheme, as management expenses attributable to a particular period may not exceed such amount as may be fixed by the scheme as the limit applicable to that period.
(2)In calculating the amount of any levy to be imposed by the scheme manager, no amount may be included to reflect management expenses unless the limit mentioned in subsection (1) has been fixed by the scheme.
(3)“Management expenses” means expenses incurred, or expected to be incurred, by the scheme manager in connection with its functions under this Act other than those incurred—
(a)in paying compensation;
(b)as a result of any provision of the scheme made by virtue of section 216(3) or (4) or 217(1) or (6)[;
(c)under section 214B [or 214D].]
[(d)under Part 15A.]
Textual Amendments
Commencement Information
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