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Financial Services and Markets Act 2000

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[F1Part 4U.K. Fees

Textual Amendments

F1Sch. 17A inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 29(2), 122(3), Sch. 7 (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c), Sch. Pts. 2, 3; S.I. 2013/423, art. 3, Sch.

36(1)The Bank of England may, in connection with the discharge of any of its qualifying functions, require recognised clearing houses[F2, EEA central counterparties or third country central counterparties] to pay fees to the Bank.U.K.

(2)The “qualifying functions” of the Bank are—

(a)its functions under or as a result of this Part of this Act, F3...

(b)its functions under or as a result of a qualifying EU provision that is specified, or of a description specified, for the purposes of this sub-paragraph by the Treasury by order[F4; and

(c)its functions under or as a result of Part 7 of the Companies Act 1989.]

(3)The power of the Bank to set fees includes power to set fees for the purpose of meeting expenses incurred by it or the FCA—

(a)in preparation for the exercise of functions by the Bank under this Part of this Act, or

(b)for the purpose of facilitating the exercise by the Bank of those functions or otherwise in connection with their exercise by it.

(4)It is irrelevant when the expenses were incurred (and, in particular, it is irrelevant if expenses were incurred by the FCA at a time when it was known as the Financial Services Authority).

37Any fee which is owed to the Bank under paragraph 36 may be recovered as a debt due to the Bank.]

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