FEES TP 22 Transitional provisions relating to FSCS levy arrangements for TP firms from IP completion day

1(1)

(2)

(3)

(4)

(5)

(6)

Material to which the transitional provision applies

Transitional provision

Transitional provision: dates in force

Handbook provision: coming into force

22.1

FEES 6.5.9R

R

The rule referred to in column (2) does not apply to TP firms.

From IP completion day, indefinitely3

2

IP completion day3

2

22.2

FEES TP 22.1R

G

FEES TP 22.1R means that a TP firm that becomes a participant firm part way through a financial year of the compensation scheme will be required to pay a share of a compensation costs levy and a specific costs levy.

22.3

The changes made to FEES 6 by the Exiting the European Union: Temporary Permission and Financial Services Contracts Instrument 2019

R

The changes in (2) apply to any levy made after IP completion day3. This is so even if:

(1) the claim against the relevant person or successor in default arose or relates to circumstances arising before that date; or

(2) the relevant person or successor was in default before that date.

2

From IP completion day3, indefinitely

2

IP completion day 3

2