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FEES TP 22 Transitional provisions relating to FSCS levy arrangements for TP firms from 1 April 2019 or, if later, 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 1 April 2019, or, if later, exit day, indefinitely

1 April 2019 or, if later, exit day

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 1 April 2019 or, if later, exit day. 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.

From 1 April 2019, or, if later, exit day, indefinitely

1 April 2019 or, if later, exit day