The Flood Reinsurance (Scheme Funding and Administration) Regulations 2015 No. 1902

PART 3 U.K. FR Scheme Funding

Application of levy or contributions collected U.K.

13.—(1) The FR Scheme administrator must only use the levy collected under regulation 8 or 10(1), or any contribution referred to in regulation 10(2), for—

(a) the purposes of the FR Scheme, including any purposes incidental to the FR Scheme;

(b) the administration of the FR Scheme.

(2) These Regulations do not prevent or require the repayment by the FR Scheme administrator of contributions.

(3) Paragraph (2) does not affect the requirement in regulation 12(1)(b) to make an adjustment.

Commencement Information

I1 Reg. 13 in force at 11.11.2015, see reg. 1(b)