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FEES 13.1 Application and purpose


FEES 13.1.1RRP

1This chapter applies to every person that is in activity group CC1 (Credit-related regulated activities with limited permission) or CC2 (Credit-related regulated activities).


FEES 13.1.2GRP

The purpose of this chapter is to set out the requirements on the persons listed in FEES 13.1.1R to pay the annual IML levy to fund the costs of taking action against illegal money lending.

FEES 13.1.3GRP

Section 333S of the Act (Financial assistance for action against illegal money lending) provides that the Treasury may make grants or loans, or give other forms of financial assistance, to persons for the purpose of taking action against illegal money lending.

FEES 13.1.4GRP

Section 333T of the Act (Funding of action against illegal money lending) requires the Treasury to notify the FCA of the amount of the Treasury’s illegal money lending costs. The FCA must make rules requiring authorised persons, or any specified class of authorised person, to pay to the FCA the specified amounts or amounts calculated in a specified way, with a view to recovering the amounts notified to it by the Treasury.

FEES 13.1.5G

FEES 13 sets out the rules referred to in FEES 13.1.4G.

FEES 13.1.6GRP

The amounts to be paid under the rules may include a component to recover the expenses of the FCA in collecting the payments.

FEES 13.1.7GRP

The FCA must pay to the Treasury the amounts that it receives under the IML levy apart from amounts in respect of its collection costs (which it may keep).

FEES 13.1.8GRP

This chapter sets out the method by which the IML levy will be calculated. Details of the actual levy payable will vary from year to year, depending on the amount of funding provided by the Treasury for the purpose of combatting illegal money lending. These details are set out in FEES 13 Annex 1R. New details will be prepared and consulted on for each financial year.

Gibraltar-based firms

FEES 13.1.9R

2 In accordance with GEN 2.3 (General saving of the Handbook for Gibraltar), rules or guidance in FEES 13 that immediately before IP completion day applied in relation to or in connection with Gibraltar will continue to apply after IP completion day. The exceptions to this provision are the fee rates set out in FEES 13 Annex 1R, which may change each fee year.