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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Version Superseded: 30/07/2022
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Financial Services and Markets Act 2000, Section 234 is up to date with all changes known to be in force on or before 24 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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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 [F1FCA] may make rules requiring the payment to it or to the scheme operator, by authorised persons or any class of authorised person [F2, any electronic money issuer within the meaning of the Electronic Money Regulations 2011][F3or any payment service provider within the meaning of the Payment Services Regulations [F42017]] of specified amounts (or amounts calculated in a specified way).
(2)“Specified” means specified in the rules.
Textual Amendments
F1Word in s. 234(1) 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. 10 (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.
F2Words in s. 234(1) inserted (9.2.2011 for certain purposes and 30.4.2011 otherwise) by The Electronic Money Regulations 2011 (S.I. 2011/99), regs. 1(2)(a)(xv)(b), 79, Sch. 4 para. 2(3)(b) (with reg. 3)
F3Words 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)
F4Word in s. 234(1) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 2(5) (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)
C3S. 234(1) modified (28.1.2021 for specified purposes) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021 (S.I. 2021/90), arts. 1(2)(3), 10(1)
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