Related provisions for FEES 6.4A.2
1 - 3 of 3 items.
Section 224F of the Act enables the FSA to make rules to enable the FSCS to impose levies on authorised persons (or any class of authorised persons) in order to meet its management expenses incurred if, under Part 15A of the Act, it is required by HM Treasury to act in relation to relevant schemes. But those rules must provide that the FSCS can impose a levy only if the FSCS has tried its best to obtain reimbursement of those expenses from the manager of the relevant scheme.
If a firm ceases to be a participant firm or carry out activities within one or more sub-classes4 part way through a financial year4 of the compensation scheme:4(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firmhas ceased to be a participant firm or carry out activities within one or more sub-classes,4 but must be before it ceases to be an authorised