SCHEDULES
C1SCHEDULE 3 Additional Provisions with Respect to Levies on Authorised Insurance Companies
Annotations:
Modifications etc. (not altering text)
Restrictions on the imposition of the levies
3
The Board may not impose a levy for the purpose of financing expenditure of any description unless—
a
the expenditure in question has already been incurred by the Board; or
b
it appears to the Board that the expenditure will be incurred within twelve months of the imposition of the levy.
Power to amend Sch. 3 conferred by Insurance Companies Act 1982 (c. 50, SIF 67), s. 67(4)
Sch. 3: functions made exercisable by, or by employees of, such person as may be authorised in that behalf by the Treasury (18.11.1998) by S.I. 1998/2842, art. 2, Sch. Pt. II para. 63(e)