Financial Services and Markets Act 2000

Budget U.K.

9 (1) The scheme operator must, before the start of each of its financial years, adopt an annual budget which has been approved by the Authority. U.K.

(2) The scheme operator may, with the approval of the Authority, vary the budget for a financial year at any time after its adoption.

(3) The annual budget must include an indication of—

(a) the distribution of resources deployed in the operation of the scheme, and

(b) the amounts of income of the scheme operator arising or expected to arise from the operation of the scheme,

distinguishing between the scheme’s compulsory [F1 , consumer credit] and voluntary jurisdiction.

Textual Amendments

F1 Words in Sch. 17 para. 9(3) inserted (16.6.2006) by Consumer Credit Act 2006 (c. 14), ss. 61(10)(c), 71(2); S.I. 2006/1508, art. 3(1), Sch. 1

Modifications etc. (not altering text)

C1 Sch. 17 para. 9(3) excluded (18.6.2001) by S.I. 2001/1821, arts. 1(1), 4(1)