The purpose of this chapter is to set
out the requirements on recognised
bodies and applicants for recognition as recognised bodies to pay fees which (with
other fee requirements in the Handbook)
provide the funding for the FSA's functions.
GEN 3 (FSA Fees - General
Provisions) applies to fees required by this chapter, and explains how the FSA sets its fees.
Most of the detail of the fees payable
by recognised bodies is
set out in REC 7 Annex 1.
The provisions of the annex will vary from one financial year to another.
Accordingly a new annex will come into force, following consultation, for
each financial year.2
The FSA does
not specify a method of payment for recognised
bodies or applicants. However the FSA expects that a recognised body or an applicant will generally
pay its fee by electronic credit transfer.