Financial Services and Markets Act 2000

234 Industry funding. U.K.

(1) For the purpose of funding—

(a) the establishment of the ombudsman scheme (whenever any relevant expense is incurred), and

(b) its operation in relation to the compulsory jurisdiction,

the Authority may make rules requiring the payment to it or to the scheme operator, by authorised persons or any class of authorised person of specified amounts (or amounts calculated in a specified way).

(2) “Specified” means specified in the rules.

Modifications etc. (not altering text)

C1 S. 234(1) amended (1.12.2001) by S.I. 2001/2326, arts. 1(1)(b), 12(1); S.I. 2001/3538, art. 2(1)

C2 S. 234(1) extended (31.10.2004 for certain purposes and 14.1.2005 otherwise) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Complaints Relating to General Insurance and Mortgages) Order 2004 (S.I. 2004/454), arts. 1(2), 6(1)