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Financial Services and Markets Act 2000
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- UK Public General Acts
- 2000 c. 8
- Part XVI
- Funding
- Section 234
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Version Superseded: 09/02/2011
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234 Industry funding.U.K.
This section has no associated Explanatory Notes
(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 [F1or any payment service provider within the meaning of the Payment Services Regulations 2009] of specified amounts (or amounts calculated in a specified way).
(2)“Specified” means specified in the rules.
Textual Amendments
F1Words in s. 234(1) inserted (2.3.2009 for certain purposes, 1.5.2009 for certain further purposes and 1.11.2009 otherwise) by The Payment Services Regulations 2009 (S.I. 2009/209), regs. 1(2), 126, Sch. 6 para. 1(1)(b) (with reg. 3)
Modifications etc. (not altering text)
C1S. 234(1) amended (1.12.2001) by S.I. 2001/2326, arts. 1(1)(b), 12(1); S.I. 2001/3538, art. 2(1)
C2S. 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)
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