BudgetU.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 [F1FCA].U.K.
(2)The scheme operator may, with the approval of the [F1FCA], 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 [F2, consumer credit] and voluntary jurisdiction.
Textual Amendments
F1Word in Sch. 17 para. 9 substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 11 para. 22 (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.
F2Words 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)
C1Sch. 17 para. 9(3) excluded (18.6.2001) by S.I. 2001/1821, arts. 1(1), 4(1)