Prospective
(1)The Secretary of State may, with the consent of the Treasury, by regulations provide for a levy to be payable to the Secretary of State by insurers of a description specified in the regulations.
(2)The regulations may—
(a)specify the rate of the levy or the method by which it is to be calculated;
(b)make provision as to the times when, and the manner in which, payments are to be made in respect of the levy.
(3)The regulations may in particular make provision for determining the amount of the levy by reference to the qualifying expenses of the relevant bodies and the Secretary of State.
(4)The regulations may make provision for amounts payable by way of levy under the regulations to be recoverable summarily (or in Scotland recoverable) as a civil debt.
(5)Before making regulations under this section the Secretary of State must consult—
(a)the Welsh Ministers;
(b)the Scottish Ministers;
(c)the Department of Agriculture and Rural Development in Northern Ireland.
(6)In this section “qualifying expenses” means—
(a)in relation to a relevant body, such proportion of the expenses of the relevant body as the Secretary of State considers reasonable having regard to the functions exercisable by that body under regulations under section 74;
(b)in relation to the Secretary of State, the expenses of the Secretary of State attributable to the exercise of functions conferred by or under this section.
(7)For “relevant body”, see section 75(2).