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Financial Services and Markets Act 2000
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- UK Public General Acts
- 2000 c. 8
- SCHEDULE 1A
- Part 2
- Funding of the relevant...
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Changes over time for: Cross Heading: Funding of the relevant costs by authorised persons or payment service providers
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Financial Services and Markets Act 2000, Cross Heading: Funding of the relevant costs by authorised persons or payment service providers is up to date with all changes known to be in force on or before 17 November 2024. 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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Valid from 08/04/2010
Funding of the relevant costs by authorised persons or payment service providersU.K.
12(1)For the purpose of meeting a proportion of the relevant costs the Authority may makes rules requiring—
(a)authorised persons or payment service providers, or
(b)any specified class of authorised person or payment service provider,
to pay to the Authority specified amounts or amounts calculated in a specified way.
(2)Before making the rules the Authority must have regard to other anticipated sources of funding of the relevant costs.
(3)The amounts to be paid under the rules may include a component to cover the expenses of the Authority in collecting the payments (“collection costs”).
(4)The Authority must pay to the consumer financial education body the amounts that it receives under the rules apart from amounts in respect of its collection costs (which it may keep).
(5)“Payment service provider” means a person who is a payment service provider for the purposes of the Payment Services Regulations 2009 as a result of falling within any of paragraphs (a) to (f) of the definition in regulation 2(1).
(6)“Specified” means specified in the rules.
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